Question

5. State whether True or False
1. A budget set is the collection of all bundles of good
that a consumer wants to buy
2.
A person who does not spend his entire income in
purchase of 2 goods stays on the budget line
3 Due to increase or decrease in income of a
consumer there is a parallel rightward or leftward shift in
the budget line given that there is o change in prices of
good 1 and good 2
4. A consumer is indifferent between the bundles (
10,9) and (8,7)​

Answer 1

Answer:

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