The Theory of Consumer Choice

question 204

Multiple Choice

The theory of consumer choice

• A)underlies the concept of the demand for a particular good.
• B)underlies the concept of the supply of a particular good.
• C)ignores, for the sake of simplicity, the trade-offs that consumers face.
• D)can be applied to many questions about household decisions, but it cannot be applied to questions concerning wages and labor supply.