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Evaluate the Truthfulness of the Following Statements

Question 18

Multiple Choice

Evaluate the truthfulness of the following statements.
I. The budget constraint is a function of consumer preferences.
II) The budget constraint defines the set of baskets that a consumer can purchase with a specific level of income.


A) Both I and II are true.
B) Both I and II are false.
C) I is true; II is false.
D) I is false; II is true.

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