consumer equilibrium


The point at which a consumer reaches optimum utility, or satisfaction, from the goods and services purchased given the constraints of income and prices. This is based on the assumption that consumers attempt to get maximum utility from their purchases and that competition exists for the item in question. Equilibrium is reached when the consumer purchases the assortment of goods which best meets his satisfaction requirements given his financial constraints.

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If you want to be able to make sure that both sides are good with a deal then you should strive for the consumer equilibrium.

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My coworkers were discussing today how some iphone users believe that apple has a consumer equilibrium, and others were arguing that they do not based on the sales of the competition.

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I make sure that the client i work for is always happy with what i do. I make sure that i fulfill whatever it is they ask for or come very close. I make it a point that when my dealings are over with the client, they are at the peak of consumer equilibrium.

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