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 ₹ 6 and ₹ 8 respectively. How much is the consumer's income ?

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 ₹ 6 and ₹ 8 respectively. How much is the consumer's income ?

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section21.1: The Budget Constraint: What The Consumer Can Afford

Problem 1QQ

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Q. 8. 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 ₹ 6 and
₹ 8 respectively. How much is the consumer's income ?

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