At a Consumer's Optimal Choice, the Consumer Chooses the Combination

question 155

True/False

At a consumer's optimal choice, the consumer chooses the combination of goods such that the ratio of the marginal utilities equals the ratio of the prices.

---

Definitions:

Contingency Theories

Theories suggesting that the effectiveness of leadership depends on the context or situation at hand, including the leader's characteristics and the conditions of the environment.

Dyadic Explanations

An analysis or discussion that involves two participants, often focusing on how their individual actions or perspectives relate to each other.

Assumptions

Beliefs or ideas taken for granted without proof, often serving as the foundation for decision-making and action.

Leadership

The activity of directing or guiding a collective towards the attainment of a mutual aim.