The reason people consume less than they desire to is because their spending is constrained by their values.
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Q1: A budget constraint shows the consumption bundles
Q3: Because indifference curves are linear for each
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
Q12: A budget constraint shows the bundles of
Q16: An increase in income changes the slope
Q18: The rate at which a consumer is
Q19: A consumer who chooses to consume at
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