In order to draw Lucky's budget line,we need to know
A) only Lucky's budget.
B) only the prices of the goods Lucky consumes.
C) both Lucky's budget and the prices of the goods Lucky consumes.
D) Lucky's budget, the prices of the goods lucky consumes, and the utilities of the goods Lucky does not consume.
E) the utilities of the goods Lucky consumes.

Question

Quizplus · Accepted Answer

A budget line represents the combinations of two goods that a consumer can purchase with their available budget. Therefore, in order to draw Lucky's budget line, we need to know both his budget and the prices of the goods he consumes.

In Order to Draw Lucky's Budget Line,we Need to Know