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HomeMIT 14.01 Principles of Microeconomics, Fall 2023Lec 3: Budget Constraints and Constrained Choice

Lec 3: Budget Constraints and Constrained Choice

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Lec 4: Demand Curves and Income/Substitution Effects

In this lecture, Prof. Gruber talks about how consumers make decisions with budget constraints and constrained choice. How do consumers make decisions when they face a limit on their resources? Keywords: constrained choice, budget constraints, consumer preference, SNAP