According to the Theory of Consumer Behaviour, Inequality p1... | Economics | SolveeIt | Solveeit

Today, August 18

Question

According to the Theory of Consumer Behaviour, Inequality p1x1+p2x2 $≤$ M is called the Consumer's ___________ .

A

Budget

B

Budget Set

C

Budget Constraint

D

Budget Behavior

Answer

Budget Constraint

Explanation

Solution

This inequality represents the consumer’s budget constraint, showing the limits of what they can afford.