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

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:

29 May Shift 2

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

27 May Shift 2

An increase in the price of socks is likely to decrease the demand for shoes and a decrease in the price of socks is likely to increase the demand for shoes. Socks and shoes are:

16 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Increase in price of goods X	(I) Increase in demand for normal goods.
(B) Increase in income of consumers	(II) Demand is price inelastic
(C) Good X is a necessary good	(III) Unit elasticity of demand.
(D) Demand curve of Good X is a rectangular hyperbola	(IV) Contraction in demand for good X

Choose the correct answer from the options given below:

CUET Economics PYQs

Keyboard Shortcuts