What is the equation for budget line LM,given in the above graph?
A)Y = 10 + 1.5X
B)Y = 10 - (2/3)X
C)Y = 1.5 + 1.5X
D)Y = 1.5 -10X
E)Y = 0.667 + 1.5X

Question

Quizplus · Accepted Answer

The correct equation for a budget line is typically in the form Y = mx + b, where m is the slope and b is the y-intercept. The given choice B, despite the formatting issue, suggests a structure closest to this form with a subtraction indicating a negative slope, which is common in budget lines, and a constant that could represent the y-intercept. The other options either add values in a manner inconsistent with the typical equation of a line or present coefficients and constants in positions that do not align with the slope-intercept form of a line equation.

What Is the Equation for Budget Line LM,given in the Above