Class 11th Important Questions for Chapter 2 Consumer Equilibrium

1. What is consumer equilibrium?

2. How is consumer equilibrium achieved?

3. What is the significance of the marginal utility theory in consumer equilibrium?

4. What is marginal utility?

5. Why does the law of diminishing marginal utility occur?

6. How does the budget constraint affect consumer equilibrium?

7. What is the relationship between marginal utility and consumer demand?

8. Explain the concept of optimal consumption bundle.

9. Why is marginal utility per Rupee spent important in consumer equilibrium?

10. What happens if a consumer is not in equilibrium?

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