Assume expenditure is equal to income (10) when the price of X is 3 an

1.	Assume expenditure is equal to income (10) when the price of X is 3 and the price of Y is 3 and an individual consumes a bundle of X= 4 and Y = 4 where Px = price of x And Py is price of y 1-How much is the totall expenditure of an individual ? What is the income of an Individual ? 2- what is the maximum consumption of X? 3- what is the maximum consumption of Y? 4- what is the slope of budget line of an individual ?
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Assume expenditure is equal to income (10) when the price of X is 3 and the price of Y is 3 and an individual consumes a bundle of X= 4 and Y = 4 where Px = price of x And Py is price of y 1-How much is the totall expenditure of an individual ? What is the income of an Individual ? 2- what is the maximum consumption of X? 3- what is the maximum consumption of Y? 4- what is the slope of budget line of an individual ?

Answer»

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