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Author Question: When isolating the substitution effect of a change in an individual's budget constraint, _____ is ... (Read 236 times)

bb

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on: Jul 1, 2018
When isolating the substitution effect of a change in an individual's budget constraint, _____ is held constant.
 
  a. utility
  b. budget
  c. income
   d. consumption

Question 2

The utility maximizing consumption bundle for an individual can be found by locating _____.
 
  a. the individual's bliss point
  b. any point on an indifference curve touching the budget constraint
  c. the highest point on an individual's indifference curve
   d. the point tangent to an individual's budget constraint


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Heffejeff

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


bb

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  • Posts: 544
Reply 2 on: Jul 1, 2018
Excellent

ashely1112

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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