Question

5. A consumer consumes only two goods X and Y. Her money income is Rs 24 and the price of Good X and Y are Rs4 and Rs2 respectively find
a) The equation of the Budget line.
b) What will be the Marginal rate of substitution when the consumer in equilibrium?
c) How will the budget line be affected if price of good Y increases by 50%? Use diagram

Answer 1

Answer

Answer:

6th January , 2021                                                                10:20 PM

Tuesday

Dear Diary ,

What a tiring day ! With so much of screen time !

As you know COVID led to a world lockdown and shutdown of schools and colleges as well . I m missing my school so badly . But , this online learning is a new experience which I would never forget ! All new e-learning ways ,digital flashcards , e-books , online friends is a new normal . This was the time when we used all digital ideas at peaks ! This way we can stay productive even though we are not attending our schools and also ; not waste your precious time .

I just love this experience . Also I have started many online courses of baking , arts and etc. Gaming is my new hobby . Same goes with streaming.

Still , I want this period to end . Not everyone is enjoying like us . Hope for the best .

Yours lovingly

Explanation:

hope help you