Multiple Choice
Which of the following is (are) true?
A) A budget constraint limits what a poor consumer can spend, but there is no similar constraint on rich people.
B) Utility maximization requires seeking the greatest utility from a given budget.
C) In consumer choice theory, we assume all goods and services are normal.
D) All of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
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