Which of the following statements is true?
A.A budget constraint limits what a poor consumer can spend, but there is no similar constraint on rich people.
B.Utility maximization requires seeking the most utility from a given budget.
C.In consumer choice theory, we assume all goods and services are inferior.
D.The slope of the budget constraint depends on how much of each good is consumed.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is true?
A.A budget constraint limits what a poor consumer can spend, but there is no similar constraint on rich people.
B.Utility maximization requires seeking the most utility from a given budget.
C.In consumer choice theory, we assume all goods and services are inferior.
D.The slope of the budget constraint depends on how much of each good is consumed.

Which of the Following Statements Is True