gebremedihngebeyehu
Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Get quick and reliable solutions to your questions from a community of experienced experts on our platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

a consumer has $100 to spend on two goods X and Y with prices $3 and $5 respectively. drive the equation of the budget line​

Sagot :

francocanacari

Answer:

3X + 5Y = 100

Explanation:

Given that a consumer has $ 100 to spend on two goods X and Y with prices $ 3 and $ 5 respectively, the equation that represents this distribution is the following:

3X + 5Y = 100

Thus, the consumer may consume different combinations of products, as long as the sum of both amounts is $100 as a final result. For instance:

3x20 + 5X8 = 100

60 + 40 = 100

3x5 + 5x17 = 100

15 + 85 = 100

Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.