menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Principles of Microeconomics
  4. Exam
    Exam 21: The Theory of Consumer Choice
  5. Question
    Explain the Relationship Between the Budget Constraint and the Indifference
Solved

Explain the Relationship Between the Budget Constraint and the Indifference

Question 120

Question 120

Essay

Explain the relationship between the budget constraint and the indifference curve at consumer optimum.

Correct Answer:

verifed

Verified

Since the budget constraint is tangent t...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q115: Figure 21-4<br>This figure shows a consumer's choice

Q116: The substitution effect (in the work-leisure model)

Q117: Draw a budget constraint that is consistent

Q118: What type of indifference curve would represent

Q119: Which characterization applies to an inferior good<br>A)The

Q121: When two goods are strong complements,such as

Q122: Figure 21-3<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 21-3

Q123: When the budget constraint is tangent to

Q124: Which property characterizes the consumption bundle selected

Q125: Which characterization applies to a normal good<br>A)The

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines