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Let in a two commodity world with the commodity X and Y, the consumer spend his entire income on X and Y.the the consumer income (M)=RS.250,price of X(Px)=Rs. 3,price of Y (Py)=5. Now if the consumer 40 units of X,what will be his consumption of good Y?
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Let in a two commodity world with the commodity X and Y, the consumer ...
Total income = 250
Price of commodity x = 3
Price of commodity y = 5
He spend his entire income
He consume 40 units of x
So, 40×3 + commodity y × units = 250
units of y consume = 250-120=130
Price of commodity y = 5
so No. of commodity of y consume = 130/5= 26
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Let in a two commodity world with the commodity X and Y, the consumer spend his entire income on X and Y.the the consumer income (M)=RS.250,price of X(Px)=Rs. 3,price of Y (Py)=5. Now if the consumer 40 units of X,what will be his consumption of good Y?
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Let in a two commodity world with the commodity X and Y, the consumer spend his entire income on X and Y.the the consumer income (M)=RS.250,price of X(Px)=Rs. 3,price of Y (Py)=5. Now if the consumer 40 units of X,what will be his consumption of good Y? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Let in a two commodity world with the commodity X and Y, the consumer spend his entire income on X and Y.the the consumer income (M)=RS.250,price of X(Px)=Rs. 3,price of Y (Py)=5. Now if the consumer 40 units of X,what will be his consumption of good Y? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Let in a two commodity world with the commodity X and Y, the consumer spend his entire income on X and Y.the the consumer income (M)=RS.250,price of X(Px)=Rs. 3,price of Y (Py)=5. Now if the consumer 40 units of X,what will be his consumption of good Y?.
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