CUET Preparation Today
Budget Set is _____. |
Given the prices of the goods and the income of a consumer. Any bundle as long as it costs less than or equal to the income A set of price available to producer. Set of bundles available to the consumer |
Set of bundles available to the consumer |
The correct answer is Option (4) → Set of bundles available to the consumer Budget set is the collection of all bundles that the consumer can buy with her income at the prevailing market prices. It includes all combinations of goods that cost less than or equal to the consumer’s income. So, it reflects the consumption choices available to the consumer within their budget constraint. |
