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This shape is caused directly by the Diminishing Marginal Rate of Substitution ( MRSXYcap M cap R cap S sub cap X cap Y end-sub consumer equilibrium class 11 notes free
D. Condition for Equilibrium (Two-Commodity Case / Law of Equi-Marginal Utility) When a consumer spends their income on two goods ( ), equilibrium is achieved when: If you're studying for your exams, I can