Multiple Choice
Which of the following is true regarding a budget constraint?
A) The budget constraint indicates that consumers desire more income.
B) The budget constraint indicates that there are limits on the consumption possibilities for a consumer.
C) The budget constraint is based on some, but not all of the prices for goods that consumers may want to buy.
D) All of the above statements describe the budget constraint.
Correct Answer:
Verified
Correct Answer:
Verified
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