Tuesday
October 21, 2014

Homework Help: Budget constraint

Posted by Summer on Thursday, February 8, 2007 at 7:52pm.

X=view of the sea
Y=wine

Price of X: Px=0
Price of Y: Py=5
Income=10

Assume that a person does not look at the view beyond the point that bores him (when the marginal utility is negative)

a) Sketch the budget constraint

I know the y-int is 2, but i am not sure about the x-int of the budget constraint.
Please help

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