Question : According to the Theory of Consumer Behaviour, Inequality + ≤ M is called the Consumer‘s
______________.
Option 1: Budget
Option 2: Budget Set
Option 3: Budget Constraint
Option 4: Budget Behaviour
Answer (1)
22nd Jan, 2024
Correct Answer: Budget Constraint
Solution : According to the theory of consumer behaviour, inequality p1x1 + p2x2 is less than equal to M is called the consumer's budget constant.
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