Budget set and budget line are two sides of the same coin
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Budget set is the combinations of the two goods that the consumer consumes within his income.
Pa . A + Pb . B ≤ y (Income)
Budget set is the combinations of the two goods that the consumer consumes which costs him exactly his income.
Pa . A + Pb . B = y (Income)
Pa . A + Pb . B ≤ y (Income)
Budget set is the combinations of the two goods that the consumer consumes which costs him exactly his income.
Pa . A + Pb . B = y (Income)
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