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Question


A situation when PXPY>MUXMUY is better than when PXPY=MUXMUY.

A
True
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B
False
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Solution

The correct option is B False
The ideal situation is of equilibrium which occurs when consumer equates the ratio of marginal utility derived from one commodity in comparison to it's price with the ratio of the marginal utility of another commodity in comparison to it's price.


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