Question: QUESTION 6 A consumer chooses an optimal consumption point where the a. marginal rate of substitution equals the relative price ratio. b. slope of

QUESTION 6 A consumer chooses an optimal consumption point where the a.

QUESTION 6 A consumer chooses an optimal consumption point where the a. marginal rate of substitution equals the relative price ratio. b. slope of the indifference curve exceeds the slope of the budget constraint. C. ratios of all the marginal utilities are equal. d. A All of the above are correct. QUESTION 7 A budget constraint illustrates the a. prices that a consumer chooses to pay for products he consumes. b. consumption bundles that give a consumer equal satisfaction. C. purchases made by consumers. d. consumption bundles that a consumer can afford.

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