Lec 3: Budget Constraints and Constrained Choice

MIT 14.01 Principles of Microeconomics, Fall 2023 Instructor: Prof. Jonathan Gruber View the complete course: ocw.mit.edu/courses/14-01-principles-of-microeconomics-spring-2023/ YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP60V7HxLYRaJMbFzP77bzEjb 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 License: Creative Commons BY-NC-SA More information at https://ocw.mit.edu/terms More courses at https://ocw.mit.edu Support OCW at http://ow.ly/a1If50zVRlQ We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.