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Question Practice

Which of the following best describes the tangency condition for consumer optimal choice?

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MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Theory Of Consumer Behaviour
Question Bank

Which of the following best de...

Single Answer MCQ
Q-00089326

Which of the following best describes the tangency condition for consumer optimal choice?

1

The budget line must intersect the indifference curve at multiple points

2

The budget line must be tangent to the highest indifference curve

3

Price ratio must be greater than the MRS

4

The consumer must consume more of inferior goods

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