Question: please solve Question 5. (a) Explain the concept of consumer equilibrium in terms of the Equi-marginal principle. Provide appropriate graph for explaining you answer (5)

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Question 5. (a) Explain the concept of consumer equilibrium in terms of the Equi-marginal principle. Provide appropriate graph for explaining you answer (5) (b) Suppose you have a budget of 1000 taka. The price of one unit of X is 20 taka, and the price of one unit of Y is 10 taka. If X provides you utility and Y gives you disutility, what is the equilibrium amount of X and Y for the consumer? Explain your answer using appropriate graph

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