Question

a consumer can buy 10 unit of good-1 and 20 unit of good-2 if she spends her entire income if the prices of the two goods are rs 10 per unit and is 20 per unit calculate the income of the consumer ​

Answer 1

Cost of good1 per unit=Rs.10

" " "2. " " =RS. 20

Income of consumer=cost of 10unit of good1 + 20 unit of good2

=10 x 10+ 20 x 20

=100+400

=500

Therefore, the consumer's income is RS. 500

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