UPMSP Intermediate Economics - Code 136 Practice Questions - Uttar Pradesh UPMSP Intermediate (Class 12) Economics - Code 136 Exam

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According to Gossen's First Law (Law of Diminishing Marginal Utility), what is the condition for a consumer's equilibrium when consuming two commodities X and Y with prices Px and Py?

MUx * Px = MUy * Py MUx / Px = MUy / Py MUx + MUy = Px + Py MUx / Py = MUy / Px

Correct Answer:

MUx / Px = MUy / Py

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