Which of the following statements regarding consumer theory is correct?

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Economics · Microeconomics

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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The demand curve can be derived from the price consumption curve.

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Answer 1

The demand curve can be derived from the price consumption curve.

Answer 2

The demand curve can be derived from the income consumption curve.

Answer 3

The substitution effect is the sum of the price effect and the income effect.

Answer 4

The marginal rate of substitution between two goods is never equal to their price ratio.

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