Question

What is Budget Line nd Budget set..??​

Answer 1

Explanation:

The basic difference between Budget set and Budget line is that the Budget set refers to the set of attainable combinations of two goods with given market price of the goods and income of consumers whereas Budget Line refers to the graphical representation of these combinations which can be purchased with given income.

GOOD EVENING PADHAKU ☺❤✌

Answer 2

Answer:

A budget set or opportunity set includes all possible consumption bundles that someone can afford given the prices of goods and the person's income level. The budget set is bounded above by the budget line.

Explanation:

The basic difference between Budget set and Budget line is that the Budget set refers to the set of attainable combinations of two goods with given market price of the goods and income of consumers whereas Budget Line refers to the graphical representation of these combinations which can be purchased with given income.