A budget constraint shows the consumption bundles that the consumer can afford, given his income and the prices of the goods.
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Q2: To reach a higher indifference curve a
Q3: Because indifference curves are linear for each
Q4: Bundles of goods on a consumer's indifference
Q5: Indifference curves are downward-sloping and linear.
Q6: When the price of a good rises,
Q7: A consumer always prefers to be on
Q8: Consumers are able to select the prices
Q9: The slope of a budget constraint is
Q10: The marginal rate of substitution is the
Q11: The slope of an indifference curve reflects
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