Ali’s budget line relating good X and good Y has intercept of 50 unit of good X and 20 units of good Y. if the price of good X is 12, what is Ali’s income? What is the price of good Y? What is then slope of budget line?
"p_y=\\frac {600}{20}=30"
"\\frac{p_x}{p_y}=\\frac{12}{30}=0.4"
Comments
Leave a comment