question 17 0.5 pts a budget line represents: the combinations of goods giving equal utility to a consumer…

question 17 0.5 pts a budget line represents: the combinations of goods giving equal utility to a consumer. all consumption possibilities the amount of income that is required to purchase a given amount of a good. consumption possibilities that exhaust the income.

question 17 0.5 pts a budget line represents: the combinations of goods giving equal utility to a consumer. all consumption possibilities the amount of income that is required to purchase a given amount of a good. consumption possibilities that exhaust the income.

Answer

Brief Explanations:

A budget line shows all combinations of two goods that a consumer can afford given their income and the prices of the goods. It represents the consumption - possibilities that exhaust the consumer's income. Combinations of goods giving equal utility are represented by indifference curves. All consumption possibilities are not just limited to those on the budget line but also include those inside it (saving occurs). The amount of income required to purchase a given amount of a good is not what the budget line represents.

Answer:

Consumption possibilities that exhaust the income.