The limits imposed on household choices by income, wealth, and product prices are captured by the Options: A . &nbspbudget constraint B . &nbspchoice set. C . &nbspassumption of perfect knowledge. D . &nbsppreference set.

The limits imposed on household choices by income, wealth, and product prices ar

Question

The limits imposed on household choices by income, wealth, and product prices are captured by the

Options:

A . budget constraint

B . choice set.

C . assumption of perfect knowledge.

D . preference set.

Answer: Option A
:
A
Budget constraint captures the limits imposed on household choices by income, wealth, and product prices.

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