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:

Posting

The act of recording financial transactions in the ledger of an accounting system.

Transaction

An agreement or exchange between two parties that involves the buying, selling, or trading of goods, services, or financial instruments.

Proof

in a financial context, refers to the process of verifying the accuracy and consistency of accounting records and financial statements.

Equality

In a business context, equality refers to ensuring fair treatment and opportunities for all employees, stakeholders, and customers, regardless of their background or personal characteristics.