For Rs. 1000, how much bananas and oranges one can buy? if the price of one orange Rs. 20 and the price of one banana is Rs.25. How many consumption bundles are possible? What are the number of bananas and oranges in these consumption bundles? Draw the budget line (BL) on a graph paper with a scale and show all possible consumption bundles on it.

For Rs. 1000, how much bananas and oranges one can buy? if the price of one orange Rs. 20 and the price of one banana is Rs.25. How many consumption bundles are possible? What are the number of bananas and oranges in these consumption bundles? Draw the budget line (BL) on a graph paper with a scale and show all possible consumption bundles on it.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.2P

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