You buy only apples and bananas. Your budget is such that you can purchase 3 apples and 4 bananas or 9 apples and 2 bananas. Write down the equation for the budget line with bananas on the y-axis. Is that equation unique?
I believe the answer is:
2y+9x=4y+3x yes, it is unique because the two set points will not change regardless of income
intermediate econ - economyst, Tuesday, June 23, 2009 at 4:27pm
I think the equation is y=5-(1/3)x. Its unique because no other linear equation will hit both known possible consumption points (4,3) and (9,2)