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December 19, 2014

Homework Help: intermediate econ

Posted by Teri on Tuesday, June 23, 2009 at 2:28pm.

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

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