The equation for budget line

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Reference no: EM13829909

Use the following graph showing two budget lines, LR and LZ to answer the following questions. The consumer’s income is $720.

a. For budget line LR the price of Y is $______ and the price of X is $______. The equation for budget line LR is ________________________.

b. For budget line LM the price of Y is $______ and the price of X is $______. The equation for budget line LM is _____________________.

Graph Info: LR y is 60, x is 40 LM y is 60, x is 80

Y points are 0, 20, 40, 60, 80

X points are 0, 20, 40, 60, 80, 100

Reference no: EM13829909

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