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explain the derivation of slope of budget line
? Related: The Budget Set
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explain the derivation of slope of budget line Related: The Budget Se...
The knowledge of the concept of budget line or what is also called budget constraint is essential for understanding the theory of consumer’s equilibrium.
A higher indifference curve shows a higher level of satisfaction than a lower one. Therefore, a consumer in his attempt to maximise his satisfaction will try to reach the highest possible indifference curve.
But in his pursuit of buying more and more goods and thus obtaining more and more satisfaction he has to work under two constraints: first, he has to pay the prices for the goods and, secondly, he has a limited money income with which to purchase the goods. Thus, how far he would go in for his purchases depends upon the prices of the goods and the money income which he has to spend on the goods.
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explain the derivation of slope of budget line Related: The Budget Set?
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explain the derivation of slope of budget line Related: The Budget Set? for B Com 2025 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about explain the derivation of slope of budget line Related: The Budget Set? covers all topics & solutions for B Com 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for explain the derivation of slope of budget line Related: The Budget Set?.
explain the derivation of slope of budget line Related: The Budget Set? for B Com 2025 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about explain the derivation of slope of budget line Related: The Budget Set? covers all topics & solutions for B Com 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for explain the derivation of slope of budget line Related: The Budget Set?.
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