Consumer Equilibrium Class 11 Notes Free ((better)) Here

Buy 3 units of X (spend ₹12) and 6 units of Y (spend ₹12). At this point, ( MU_x / P_x = MU_y / P_y = 3 ).

This is the most common numerical question in Class 11 exams. consumer equilibrium class 11 notes free

| Term | Meaning | Example (Eating Pizza) | | :--- | :--- | :--- | | | Sum of utility derived from all consumed units. | TU of 3 slices = 50 utils (10+15+25) | | Marginal Utility (MU) | Additional utility from consuming one extra unit. Formula: ( MU_n = TU_n - TU_n-1 ) | MU of 3rd slice = 25 utils | | Law of DMU | As you consume more, MU keeps falling. | 1st slice = high joy; 4th slice = less joy. | Buy 3 units of X (spend ₹12) and

Core terms include (want-satisfying power), Total Utility (TU) (total satisfaction), and Marginal Utility (MU) (extra satisfaction from one more unit). The Law of Diminishing Marginal Utility states that as consumption rises, MU falls. | Term | Meaning | Example (Eating Pizza)