Business, 11.03.2021 04:20 samariahmiddlebrooks

Which of the following is a true statement about budget constraints? Select the correct answer below:

All along the budget constraint, giving up some of one good does not mean a consumer must also give up some of the other good.

Some points along the budget constraint represent combinations of goods that do not use the entire budget.

Each point on the budget constraint represents a combination of two different goods whose total costs add up to the consumer’s total budget.

The relative price of one good compared to the other determines the consumer’s total budget.

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