In case consumer’s equilibrium to be explained through an ordinal approach, when there are two commodities with their prices given and with limited income of the consumer, the following information is required:

a. Price line/budget line

b. Indifference map

c. Point of tangency between IC and budget line

d. Equality of the slopes of IC and budget line


  • A

    b) → d) → a) → c)


  • B

    b) → a) → d) → c)


  • C

    a) → d) → b) → c)


  • D

    a) → b) → c) → d)