a consumer consumes only two goods x and y priced at Rs. 3 per unit .if the consumer chooses a combination of these two goods with MRS equal to 3 IS THE CONSUMER IN EQUILIBRIUM.Give reason what will a rational consumer do in this situation ? explain
 

Dear Student, 
For a consumer to be at equilibrium he must follow  two conditions.
1. MRSxy​ = Ratio of prices (P(X)P(Y))
2. MRS continuously falls. MRS must be diminishing at the point of equilibrium which means indifference curve must be convex to origin at the  point of equilibrium.

MRS is the amount of good that a consumer is willing to give up for another good as long as the new good is equally satisfying. MRS is always diminishing because when a person sacrifices an amount of good to attain one unit of another good then the amount of good he sacrifices decreases with every other increase in unit of other good.

Now in this case the price of x and y are Rs. 3 each and the price ratio of Good X and Good Y is 1.
Now consumer chooses a combination of two goods with MRSxy =3. 
The consumer is not at equilibrium. In order to attain equilibrium, the MRSxy  should be equal to ​P(X)P(Y)
In this case MRSxy = 3 and P(X)P(Y)= 1
Therefore, MRSxy > 1
Since MRS > Price Ratio, so a rational consumer will increase the consumption of Good X by sacrificing fewer untis of Good Y. This will be continued till a point is reached where MRSxy= P(X)P(Y).
Regards

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