Explain the conditions that are met when a consumer has found the best affordable combination of goods

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Explain the conditions that are met when a consumer has found the best affordable combination of goods to buy. (Use the terms budget line, marginal rate of substitution, and relative price in your explanation.)

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 07:09 AM

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Explain the conditions that are met when a consumer has found the best affordable combination of goods

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At the optimal consumption choice the consumers consumpt...View the full answer

Microeconomics

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