Question

multiple choice question as a result of having fixed or limited amounts of income, all consumers face which of the following? a budget constraint the substitute effect an opportunity cost consumer equilibrium

Explanation:

In economics, when consumers have fixed or limited income, they are restricted in their consumption choices by a budget constraint. The budget constraint represents all the combinations of goods and services that a consumer can afford given their income and the prices of the goods. The substitute effect is related to changes in relative - prices, opportunity cost is the cost of forgoing the next best alternative, and consumer equilibrium is about maximizing utility subject to the budget constraint. But the immediate consequence of limited income is the budget constraint.

Answer:

A. A budget constraint