At the Consumer's Optimum Point, the Marginal Rate of Substitution

question 56

True/False

At the consumer's optimum point, the marginal rate of substitution of apples for oranges is equal to the ratio of the price of oranges to the price of apples.

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Definitions:

Susceptibility

The likelihood or tendency to be influenced or harmed by a particular thing or condition.

Motion Sickness

A condition in which the conflict between visually perceived movement and the vestibular system's sense of movement causes nausea, dizziness, and other symptoms.

Vestibular Senses

The sense responsible for providing the brain with information about motion, head position, and spatial orientation; it also helps with balance and maintaining posture.

Orientation

The awareness of one's self in relation to time, place, and identity, often used as a measure of one's mental state.