Question : The collection of all bundles a consumer can buy with her income at the prevailing market prices is called the ______.
Option 1: budget set
Option 2: budget constraint
Option 3: budget anomaly
Option 4: budget line
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Correct Answer: budget set
Solution : The correct option is the budget set .
The collection of all bundles that a consumer can buy with their income at the prevailing market prices is called the budget set. This set represents the various combinations of goods and services that the consumer can afford given their income and the prices of the goods in the market.
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