Question

Explain slope/rate of budget line with proper respective curve​

Answer 1

Answer:

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Explanation:

Slope of the Budget Line and Prices of Two Goods:

Slope of the Budget Line and Prices of Two Goods:8.14. Suppose the given income of the consumer is M and the given prices of goods X and Y are Px and Py respectively. The slope of the budget line BL is OB/OL. We intend to prove that this slope is equal to the ratio of the prices of goods X and Y.