Home
Class 11
ECONOMICS
Given that a consumer's income is Rs.40 ...

Given that a consumer's income is Rs.40 and the two goods are equally priced at Rs.10 , identify those bundles which cost him exactly Rs.40.

Text Solution

Verified by Experts

The correct Answer is:
(0,4),(1,3),(2,2),(3,1),(4,0)
Given:M=Rs.40 , `P_1`=Rs.10 , `P_2`=Rs.10
Promotional Banner

Topper's Solved these Questions

  • CONSUMER'S EQUILIBRIUM

    RADHA BHUGANA|Exercise LET US RECAPITULATE|8 Videos

  • CONSUMER'S EQUILIBRIUM

    RADHA BHUGANA|Exercise MCQ|14 Videos

  • CONSUMER'S EQUILIBRIUM

    RADHA BHUGANA|Exercise UNSOLVED NUMERICALS|8 Videos

  • CONCEPTS OF REVENUE

    RADHA BHUGANA|Exercise Unsolved numericals|4 Videos

  • ELASTICITY OF DEMAND

    RADHA BHUGANA|Exercise Unsolved Numericals|24 Videos

Similar Questions

Explore conceptually related problems

Given that income of a consumer is Rs.80, price of x=Rs.10 per unit and price of y=Rs.10 per unit. Find consumer's equilibrium.

A consumer has total money income of Rs.250 to be spent on two goods X and Y with prices of Rs.25 and Rs.10 per unit respectively.On the basis of the given information , answer the following questions : (a) Given the equation of the budget line for the consumer. (b)What is the value of slope of the budget line ? (c )How many units can the consumer buy if he is to spend all his money income on good X ? (d)How does the budget line change if there is a fall in price of good Y ?

A consumer has total money income of Rs.500 to be spent on two goods x and y with prices of Rs.50 and Rs.10 per unit respectively. On the basis of the given information, answer the following question : (a)Give the equation of the budget line for consumer. (b)What is the value of slope of the budget line ? (c )How many units can the consumer buy if he is to spend all his money income on good x ? (d) How does the budget line change if there is a 50% falls in price of good y ?