Bissoy.com
Doctors Medicines MCQs Q&A

Suppose a consumer can afford to buy 6 units of Good-1 and 8 units of Good-2 if she spends her entire income. The prices of the two goods are Rs.6 and Rs.8 respectively. How much is the consumer's income?

10 views

2 Answers

Budget equation is given as :

PxX+PyY=M

Let Good-1 be X

and Good-2 be Y

Putting the values, we get :

(6).(6) + (8).(8) = 36 + 64= Rs.100

10 views

Budget equation is given as :

PxX+PyY=M

Let Good-1 be X

and Good-2 be Y

Putting the values, we get :

(6).(6) + (8).(8) = 36 + 64= Rs.100

10 views

Related Questions