A consumer spends all his income (in equilibrium) to purchase 50 units of x and 20 units of y when the price of x and y are Rs. 2 and Rs.5 per unit per unit respectively
Complete Question:
A consumer spends all his income (in equilibrium) to purchase 50 units of x and 20 units of y when the price of x and y are Rs. 2 and Rs.5 per unit per unit respectively
(i) Write the equation of his budget line.
Solution
Therefore, the equation of the budget line is 2X+5Y=200.
Comments
Leave a comment