Textbook Notes (367,969)
Canada (161,538)
Economics (708)
Chapter 2

Chapter 2 – Budget Constraint.docx

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Department
Economics
Course
Economics 2261A/B
Professor
Desmond Mc Keon
Semester
Fall

Description
Chapter 2 – Budget Constraint Consumption Bundle – a list of two numbers that tell us how much the consumer is  choosing to consume of good 1 and good 2 ­ Goods = (x1, x2) ­ Prices = (p1, p2) ­ Budget Set = m Budget Constraint = p1x1 +p2x2 
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