Which of the following statements is true? A) A budget constraint is

Which of the following statements is true?

A) A budget constraint is the same for a consumer at all levels of income.
B) A budget constraint is a function of the income of the consumer and not the prices of the goods and services available for consumption.
C) A budget constraint quantifies the trade-offs that economic agents face while making decisions.
D) A budget constraint is based on the minimum amount of money that an economic agent can spend on goods and services.

ANSWER

C