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Budget Lines and Indifference Curves Started: Nov 19 at 4:36pm Quiz Instructions Flag question: Spacer Budget Lines and indifference curves in combination can be used
Budget Lines and Indifference Curves Started: Nov 19 at 4:36pm Quiz Instructions Flag question: Spacer Budget Lines and indifference curves in combination can be used to predict human behavior, i.e. generate true positive statements. A positive statement takes the form of an if/then statement. If A then B. A is a change in the world, e.g. change in income, prices, or tastes and preferences. B is a predicted behavior. The Budget Line shows the combinations of 2 goods that are attainable (can be be bought) but a person given his income and the prices of the 2 goods
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