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If the price of good Y increases while the price of good X remains constant, what happens to the budget constraint?
What does it mean if a combination of goods lies inside the budget constraint?
If a consumer has an income of \$50 and the price of a good is \$5, what is the maximum quantity of the good they can purchase?
With an income of \$60 and a good priced at \$15, what is the maximum quantity of the good that can be purchased?
What happens to the budget constraint line if a consumer's income decreases?
How do you determine the intercepts of a budget constraint graph?
What distinguishes an affordable combination of goods from an unaffordable one?
Why is the concept of a budget constraint significant in consumer decision-making?