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Explanation:
Given, quantity of Good-1 = 8 units
Quantity of Good-2 = 10 units
Price of Good-1 = Rs 5
Price of Good-2 = Rs 11
We know that,
P 1X1 + P2X2 =Y
⇒5×8+11×10=Y
⇒40+110=Y
⇒150=Y
Thus, consumer's income is Rs 150.
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Consumer income is ₹150.
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