Asked by
Joseph Lutch
on Nov 04, 2024
Verified
Income increases cause no change in a household's choice set.
Choice Set
A set of all possible options available for a consumer or a decision-maker in a given context.
- Acknowledge the connection between budget constraints and the range of choices for consumers.
Verified Answer
HL
Learning Objectives
- Acknowledge the connection between budget constraints and the range of choices for consumers.