Economy, asked by pallavihiremath009, 1 year ago

explain the derivation of slope of budget line

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Answered by mohamedeshna747

Answer:

It is also important to remember that the slope of the budget line is equal to the ratio of the prices of two goods. ... Now, the quantity of good Y purchased if whole of the given income M is spent on it is OB. It is thus proved that the slope of the budget line BL is equal to the ratio of prices of two goods.

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