Consider a consumer choosing between spending her money on food,F,or clothing,C. Assume that a unit of food and a unit of clothing have the same price, and that the consumer can afford a total of 20 units of either food or clothing. If B stands for benefits then "F + C = 10" is the:
A) optimal solution.
B) objective function.
C) constraint.
D) first-order condition.

Question

Quizplus · Accepted Answer

The equation "F + C = 10" represents a constraint because it limits the total amount of food and clothing the consumer can purchase to 10 units, given their budget and the prices of food and clothing.

Consider a Consumer Choosing Between Spending Her Money on Food,F,or