What does the theory of consumer choice provide the foundation for understanding
A)the structure of a firm
B)the profitability of a firm
C)the product demand curve of a firm
D)the product supply curve of a firm

Question

Quizplus · Accepted Answer

The theory of consumer choice explains the behavior and preferences of individual consumers, which ultimately determine the demand for a firm's products. Therefore, understanding consumer choice is essential to developing accurate product demand curves for a firm.

What Does the Theory of Consumer Choice Provide the Foundation