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.

Question

Quizplus · Accepted Answer

The theory of consumer choice is the foundation for determining demand for a particular good, as it examines how consumers make decisions about what to buy based on their preferences and budget constraints.

The Theory of Consumer Choice