A budget constraint represents the bundles of consumption that make a consumer equally happy. refers to the limited amount of income available to consumers to spend on goods and services. reflects the desire by consumers to increase their income. shows the prices that a consumer chooses to pay for products he consumes.

Question

Social Studies

Albert Fisher

13 November, 14:28

A budget constraint represents the bundles of consumption that make a consumer equally happy. refers to the limited amount of income available to consumers to spend on goods and services. reflects the desire by consumers to increase their income. shows the prices that a consumer chooses to pay for products he consumes.

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Alessandra · Answer 1

refers to the limited amount of income available to consumers to spend on goods and services

Explanation:

the budget constraint symbolizes all of the mixtures of products and services which consumers can buy at current market prices within their earnings. Consumer theory utilizes the idea of budget constraint and choice chart to examine purchasing decisions