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1. |
If the consumer wants to buy \({x_1}\) units of item 1 and \({x_2}\) units of item 2 and the prices of the two items are \({p_1}\)and \({p_2}\) respectively, and M is the income of the consumer, then \({p_{1x1}}\) + \({p_{2x2}}\) ≤ M is called the consumer's _______ . |
A. | Demand graph |
B. | Utility function |
C. | Budget constraint |
D. | Indifference curve |
Answer» D. Indifference curve | |