Which of the following inequalities represents the consumer 39 s budget constraint 1 P1X1 P2X2 MP 1X...........

Economics (CUET) Consumer Behaviour and Demand

Which of the following inequalities represents the consumer's budget constraint?

1.P1X1+P2X2=MP_1X_1 + P_2X_2 = MP1X1+P2X2=M

2.P1X1+P2X2

3.P1X1+P2X2≤MP_1X_1 + P_2X_2 \leq MP1X1+P2X2≤M

4.P1X1+P2X2>MP_1X_1 + P_2X_2 > MP1X1+P2X2>M

This questions was previously asked in

CUET ECONOMIC Previous Year Paper 2023

Explanation: The budget constraint shows that a consumer cannot spend more than their income.

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