The theory of consumer choice provides the foundation for understanding the
A)structure of a firm.
B)profitability of a firm.
C)demand for a firm's product.
D)supply of a firm's product.

Question

Quizplus · Accepted Answer

The theory of consumer choice is primarily concerned with how consumers make decisions regarding the allocation of their resources, particularly in terms of purchasing goods and services. This directly influences the demand for a firm's product, as it is based on consumer preferences and income constraints.

The Theory of Consumer Choice Provides the Foundation for Understanding