Asked by
Gayan Kushantha
on Nov 04, 2024
Verified
Price increases cause a decrease in a household's choice set.
Choice Set
A collection of all possible options available to a consumer or decision-maker.
- Comprehend the link between financial limitations and the selection options available to consumers.
Verified Answer
KD
Learning Objectives
- Comprehend the link between financial limitations and the selection options available to consumers.