In a Walrasian Equilibrium,which of the Following Constrains an Individual

question 11

Multiple Choice

In a Walrasian equilibrium,which of the following constrains an individual when he optimizes?

• A) The market prices.
• B) His tastes.
• C) The actions of other individuals.
• D) Nothing-the individual has no constraints in a Walrasian equilibrium.

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Definitions:

Cause-And-Effect

A relationship between two events where the first event (cause) is responsible for the second event (effect).

TV Sets

Devices designed to receive and display television broadcasts.

Life Expectancy

The average period that an individual is expected to live based on current mortality and health trends.

Wealth

The abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions.