Question

Consider the Budget line of a consumer with income ` 400 andthe two goods under consideration priced at ` 20 and ` 40respectively. If the following three bundles are said to beon the budget line, find the missing values (i) [ _, 0] (ii) [16, _ ] and(iii) [ _,5] *

Answer 1

Explanation:

Budget line of a consumer with income ` 400 andthe two goods under consideration priced at ` 20 and ` 40respectively. If the following three bundles are said to beon the budget line, find the missing values