Question

Suppose a consumer buys 5 units of good X and 4 units of good Y and spends his
entire income. The prices of good X and good Y are Rs.10 and Rs. 12 respectively.
Calculate the income of the consumer.

Answer 1

Answer:

The income of the consumer: 98/-

Explanation:

Given,

The consumer buys 5 units of good 'X' and 4 units of good 'Y'.

Cost of X commodity = 10/-

Cost of Y commodity = 12 /-

5(10)+4(12)=98/-