Find two differences between Budget Line and Budget Set. – InterviewSolution

1.

Find two differences between Budget Line and Budget Set.

Answer»

Budget Line	Budget Set
1. It is a locus of different combinations of the two goods which the consumer consumes and whose price is equal to his income.	1. It is a collection of all bundles available to a consumer at the existing price at a given level of income.
2. It is also known as Price line.	2. It is also known as opportunity set

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