A consumer is said to be in equilibrium, if I.A.S. (Pre)

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A consumer is said to be in equilibrium, if

I.A.S. (Pre) 1998

[Fiscal Policy, Inflation Planning and Banking]

he is able to fulfil his need with a given level of income.

he is able to live in full comforts with a given level of income.

he can fulfil his needs without consumption of certain items.

he is able to locate new sources of income.

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