Explain this statement.
If IC is not convex at the point of equilibrium, the consumer cannot reach the point of stable equilibrium. Comment.

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Solution

True.
If IC is not convex at the point of equilibrium (or $M R S_{X Y}$ is not diminishing), the consumer cannot reach the point of stable equilibrium. In case IC is concave, it implies that marginal utility tends to rise as more of a commodity is consumed. Why should a consumer stop the consumption of that commodity, at all? In such a situation any equilibrium (when two goods are consumed) will never be a stable equilibrium.

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Explain this statement.If IC is not convex at the point of equilibrium, the consumer cannot reach the point of stable equilibrium. Comment.

Explain this statement.
If IC is not convex at the point of equilibrium, the consumer cannot reach the point of stable equilibrium. Comment.