Given that income is $300, the price of good Y is $15, and the price of good X is $20.What is the vertical intercept of the budget line?
A) 4,500.
B) 300.
C) 20.
D) 15.
Correct Answer:
Verified
Q123: Suppose earnings are given by E =
Q125: Suppose that consumers' preferences are well behaved
Q127: Suppose that consumers' preferences are well behaved
Q128: Suppose that a consumer's preferences are well
Q129: Suppose that consumers' preferences are well behaved
Q133: When the price of one good decreases,the
Q134: Suppose that consumers' preferences are well behaved
Q135: Suppose that consumers' preferences are well behaved
Q138: Consider a two-good world,with commodities X and
Q139: Sam Voter prefers Jack to Rob,Rob to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents