Question

4. Given = 8 = 5, M = 40
(a) Frame the budget line equation.
(b) = 5 = 5, M = 40, frame budget line equation and draw
the budget line.
(c) Find the slope of the two budget lines and compare
them.

Answer 1

Answer:

10 hours ago — (b) = 5 = 5, M = 40, frame budget line equation and draw the budget line. (c) Find the slope of the two budget lines and compare them

Explanation:

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