Question

A consumer must divide $600 between the consumption of product x and product y. The relevant market prices are px = $10 and py = $40. A. Write the equation for the consumer's budget line

Answer 1

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Answer 2

Answer:

Consumers Budget Line Equation: XPx   YPy = M i.e. 10X   40Y = 600 where X= quantity of product X, Y = quantity of product Y, Px = price of product X Py = price of product Y M = Budget income 3,

Here this will the equation of the budget line with which the man will divide $600 between the consumption of production x and production y.

Explanation: