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what is budget line
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what is budget line
A graphical depiction of the various combinations of two selected products that a consumer can afford at specified prices for the products given their particular income level. When a typical business is analyzing a two product budget line, the amounts of the first product are plotted on the horizontal X axis and the amounts of the second product are plotted on the vertical Y axis.
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what is budget line
Budget line
a graph showing the different quantities of different goods which could be purchased at different prices, given that the purchaser has a fixed amount of money to spend. It is used in conjunction with an indifference curve to identify to identify the goods and their quantities which a customer might want to purchase. Also called consumption possibility curve
a graph showing the different quantities of different goods which could be purchased at different prices, given that the purchaser has a fixed amount of money to spend. It is used in conjunction with an indifference curve to identify to identify the goods and their quantities which a customer might want to purchase. Also called consumption possibility curve
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what is budget line
It is a graphical representation of all possible combinations of two goods which can be purchased with given income and prices, such that the cost of each of these combinations is equal to the money income of the consumer.
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what is budget line
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what is budget line for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about what is budget line covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what is budget line.
what is budget line for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about what is budget line covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what is budget line.
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