Question : Assertion: Consumer equilibrium occurs when the consumer's budget line is tangent to the highest possible indifference curve.

Reason: At this point, the consumer is maximizing their utility within the given budget constraint.

Question : Assertion: Consumer equilibrium can be achieved at a point where the consumer's budget line is steeper than any indifference curve.

Reason: This occurs when the consumer exhausts their budget on the good with the highest marginal utility.

Question : Assertion: A consumer maximizes utility by consuming goods until the marginal utility per unit of money spent is equal across all goods.

Reason: The consumer aims to allocate their budget in a way that maximizes their overall satisfaction.

Question : Assertion: Consumer equilibrium can occur at multiple points of tangency between the budget line and indifference curves.

Reason: The consumer can achieve the same level of utility by choosing different combinations of goods that are equally preferable.

Question : Assertion: The concept of consumer surplus represents the difference between the price a consumer is willing to pay and the actual price they pay for a good.

Reason: Consumer surplus reflects the additional benefit or utility the consumer receives from purchasing a