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michlee michlee
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5 years ago
A consumer's budget constraint is

• the limited income that a consumer has to spend on goods and services.

• the rate at which the consumer must give up one good to purchase an additional unit of the other goods in the market.

• the price ratio a consumer faces in the marketplace.

• the extent to which one's preferences are limited by one's income.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
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jaded 7.jaded 7.
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5 years ago
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michlee Author
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5 years ago
You make an excellent tutor!
jbag1237
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Helped a lot
vernonb
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I appreciate what you did here, answered it right Smiling Face with Open Mouth
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