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Description of the optimal allocation of consumption

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Reference no: EM132170487

Based on the Consumer's Theory Model, the following are proper description of the optimal allocation of consumption (X,Y), EXCEPT:

  • Is the point where the consumer maximizes utility given the budget constraint.
  • Is the point where the budget constraint intersects an indifference curve.
  • Is the point where the budget constraint makes tangency with the highest attainable indifference curve.
  • The optimal allocation is unique for any given budget constraint.

Reference no: EM132170487

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