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A consumer wants to consume two goods- X and Y. The prices of the goods are Rs. 6 and Rs. 10 respectively. Her total income is 30. What will be the budget line equation? |
6x + 10y = 20 10x + 6y = 30 6x + 10y = 30 20x + 10y = 20 |
6x + 10y = 30 |
the correct answer is option 3: 6x + 10y = 30 The equation of the budget line can be seen as: $p_1$x1 + $p_2$x2 = M |
