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In the textbook "Managerial Economics & Business Strategy Michael Baye, Jeffrey Prince 8" it states "The objective of the consumer is to choose the bundle that maximizes his or her utility, or satisfaction. If there was no scarcity, the more-is-better property would imply that the consumer would want to consume bundles that contained infinite amounts of goods. However, one implication of scarcity is that the consumer must select a bundle that lies inside the budget set , that is, an affordable bundle."
Imagine a world in which there is no such thing as a budgetary constraint. Would you still agree with the first two sentences quoted above? Explain.
Please explain your examples in your own words, citing (APA style) as needed. Be prepared to discuss your findings in class forums, as they apply. Your typed responses to this assignment are due for Week Two.
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