-Refer to Exhibit E-9. Which of the following points is least preferred, given the consumer's budget and the set of prices?
A) m
B) n
C) o
D) p
E) q

Question

-Refer to Exhibit E-9. Which of the following points is least preferred, given the consumer's budget and the set of prices?
A) m 
B) n 
C) o 
D) p 
E) q

Quizplus · Accepted Answer

Point q is least preferred because it lies inside the budget constraint, indicating that the consumer could achieve a higher level of utility by moving to a point on the budget line, such as m, n, o, or p, without exceeding their budget.