Problem
1. What is the difference between an interior optimum and a corner point optimum in the theory of consumer choice?
2. At an optimal interior basket, why must the slope of the budget line be equal to the slope of the indifference curve?
3. At an optimal interior basket, why must the marginal utility per dollar spent on all goods be the same?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.