gpinney1805 gpinney1805

24-01-2020
Business

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A schedule or curve that shows the various combinations of two products a consumer can purchase with a specific amount of money income is:____________a) a trade offb) a budget linec) a tangent point

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Samawati Samawati

31-01-2020

Answer:

budget line

Explanation:

A budget line is a graphical representation that shows all the possible combination of how two products that can be consumed at different prices with a given income. The budget line is downward sloping with the gradient of the slope reflecting the two prices.

A budget line assists in understanding consumer choices and behavior. A budget line may shift due to changes in the consumer's income. It shifts to the left when income decreases and shifts to the right when income increase.

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