Mr. Haroon has limited income which he spends on goods X and Y, market price of X is Rs. 30 per unit and Y is Rs. 40 per unit. When he draws his budget line, its X intercept at 100 units. Find Haroon’s income and slope of his budget line.
Mr. Haroon has limited income which he spends on goods X and Y, market price of X is Rs. 30 per unit and Y is Rs. 40 per unit. When he draws his budget line, its X intercept at 100 units. Find Haroon’s income and slope of his budget line.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 8SQ
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Mr. Haroon has limited income which he spends on goods X and Y, market price of X is Rs. 30 per unit and Y is Rs. 40 per unit. When he draws his budget line, its X intercept at 100 units. Find Haroon’s income and slope of his budget line.
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