What is the price line?
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The understanding concept of a budget line essential for knowing the theory of consumers equilibrium............
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"Price Line or budget line represents the various combinations of two goods which can be purchased with the given income and assumed prices of goods". Price line aur budget line is also known as a budget constraint.
Price Line or budget line is important for knowing about the theory of consumer's equilibrium. The slope of price line is a negative price ratio and it is depicted by a straight line which slopes downwards.
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