The equation of Budget Line is :M=PxQx+PyQywhere M=Money income of the consumer; Px= Price of good-X; Py=Price of good-Y Qx= Quantity of good -X; Qy= Quantity of good-Y.
The equation of Budget Line is :M=PxQx+PyQywhere M=Money income of the consumer; Px= Price of good-X; Py=Price of good-Y Qx= Quantity of good -X; Qy= Quantity of good-Y.
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Answer:
The equation of Budget Line is :M=PxQx+PyQywhere M=Money income of the consumer; Px= Price of good-X; Py=Price of good-Y Qx= Quantity of good -X; Qy= Quantity of good-Y.
Explanation:
The equation of Budget Line is :M=PxQx+PyQywhere M=Money income of the consumer; Px= Price of good-X; Py=Price of good-Y Qx= Quantity of good -X; Qy= Quantity of good-Y.