Lec 3: Budget Constraints and Constrained Choice

MIT 14.01 Principles of Microeconomics, Fall 2023
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F23
YouTube Playlist: https://www.youtube.com/playli....st?list=PLUl4u3cNGP6

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

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