**Question:**The budget constraint line by itself tells us preferences and indifference.- ○ True- ● False**Explanation:**A budget constraint line represents the combinations of goods and services that a consumer can purchase given their income and the prices of those goods. However, it does not convey information regarding the consumer's preferences or levels of satisfaction (indifference). Preferences are typically represented by indifference curves, which illustrate different bundles of goods between which a consumer is indifferent. Thus, the answer is "False" as the budget constraint line alone does not provide insight into preferences or indifference.

Answered: The budget constraint line by itself…

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Economics

The budget constraint line by itself tells us preferences and indifference. True O False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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