A Consumer Chooses an Optimal Consumption Point Where the

question 487

Multiple Choice

A consumer chooses an optimal consumption point where the

• A)marginal rate of substitution equals the relative price ratio.
• B)slope of the indifference curve exceeds the slope of the budget constraint.
• C)ratios of all the marginal utilities are equal.
• D)All of the above are correct.

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Definitions:

Human Resources School

An approach or perspective in organizational management focusing on employee welfare, motivation, and efficiency as key factors in achieving organizational success.

Labor Problem

Issues and disputes arising in the workplace, including matters of pay, working hours, conditions, safety, and disputes between employees and employers.

Mainstream Economics

The body of knowledge, models, and theories that forms the majority view within the field of economics, typically focusing on market systems and rational choice theory.

Individual Worker Rights

The set of legal entitlements and protections afforded to employees, including safety regulations, fair wages, and freedom from discrimination.