Question

Define Budget Set and Budget Line​

Answer 1

Answer:

Budget set refers to the set of possible combination of the two goods the consumer consume which he can afford from his income and given price, whereas budget line is the graphical presentation of the whole collection of the combination of the two goods which costs the consumer exactly his income.

Answer 2

Budget set reffers to the set of possible combination of two the consumer consume which he can afford from his income and given price,whereas budget line is the graphical presentation of the whole collection of the combination of two goods which costs the consumer exactly his income.....

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