Answer to Question #182512 in Microeconomics for Abdus

Question

First calculate the Income of your family by using the following formula:

Family Income = Last Two digit of your enrolment number * Parents + Number of siblings

* 500

Answer 1

Family Income = Last Two digit of your enrollment number $\times$ Parents + Number of siblings

$\times$ 500 = $53\times 2+2\times500=\$1106$