Consumer equilibrium is achieved at the point of tangency between the budget line and the highest attainable indifference curve.

Name: Consumer equilibrium is achieved at the point of tangency between the budget line and the highest attainable indifference curve.
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Question

Quizplus · Accepted Answer

This statement accurately describes the concept of consumer equilibrium, where a consumer's optimal consumption bundle is determined by the intersection of their budget constraint and the highest attainable indifference curve.

Consumer Equilibrium Is Achieved at the Point of Tangency Between