Which of the following inequality represents the consumer's budget constraint ? Option 1: p_1x_1 + p_2x_2 = M Option 2: p_1x_1 + p_2x_2 M

The answer is 'p_1x_1 + p_2x_2 ≤ M'. View full solution:

CUET Economics - Which of the following inequality represents the consumer's budget constraint ? | PYQs + Solutions

CUET Economics 2023 1 June Shift 1

Micro

Easy

$p_1x_1 + p_2x_2 = M$

$p_1x_1 + p_2x_2 < M$

$p_1x_1 + p_2x_2 \leq M$

$p_1x_1 + p_2x_2 > M$

✅ Correct Option: 3

Related questions:

28 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Slope of Budget line	(I) $P_1X_1 + P_2X_2 \leq M$
(B) Horizontal intercept of budget line	(II) $M/P_2$
(C) Vertical intercept of budget line	(III) $-\frac{P_1}{P_2}$
(D) Budget constraints	(IV) $M/P_1$

Choose the correct answer from the options given below:

29 May Shift 2

The optimum bundle of the consumer is located at the point where..................?

28 May Shift 1

How would the decrease in the price of Good-X impact the budget line, when the price of Good-Y and Income remain unchanged?

The intercept points of both Good-X and Good-Y will shift outward.
The intercept point of Good-X will shift outward and the intercept point of Good-Y will remain unchanged.
The intercept point of Good-X will shift inward and the intercept point of Good-Y will remain unchanged.
The intercept points of both Good-X and Good-Y will shift inward.