Item budget theory states that a consumer sets a predetermined spending level and will spend no more than 10% above that amount.

Name: Item budget theory states that a consumer sets a predetermined spending level and will spend no more than 10% above that amount.
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Question

Quizplus · Accepted Answer

Item budget theory does not specify a fixed percentage like 10% above a predetermined spending level; it generally refers to how consumers allocate their budget across different items based on preferences and constraints.

Item Budget Theory States That a Consumer Sets a Predetermined