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A consumer of a single commodity is in equilibr... - JAMB Economics 2022 Question

A consumer of a single commodity is in equilibrium when

A

he can equate his demand with price

B

he equates marginal utility and price

C

he can equate his marginal and total utilities

D

his marginal utility is equal to zero

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Correct Option: B

Option B is the correct answer. 

A consumer is in equilibrium when the marginal utility equal to the price of the commodity i.e MUx = Px.
Where : X = the commodity
MU = Marginal utility
P = price of the commodity
Therefore, a consumer who consume a single commodity such as apple will be at equilibrium when MUa = Pa

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