3 Questions
What is the main focus of consumer theory?
Maximizing consumer satisfaction given limited resources
In consumer theory, what does the law of diminishing marginal utility suggest?
As consumption of a good increases, the additional satisfaction from each unit decreases
What is the primary purpose of an indifference curve in consumer theory?
To show combinations of goods that provide equal levels of satisfaction
Test your knowledge of consumer theory with this quiz PDF. Explore various concepts related to consumer behavior and decision-making.
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