The budget constraint line cuts the horizontal axis at 12 units of X and it cuts the vertical axis at 20 units of Y. If the price of good x is $20 and the price of Y is $12, then what does income equal. $240 We can't tell from the information given $480 $720
The budget constraint line cuts the horizontal axis at 12 units of X and it cuts the vertical axis at 20 units of Y. If the price of good x is $20 and the price of Y is $12, then what does income equal. $240 We can't tell from the information given $480 $720
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![The budget constraint line cuts the horizontal axis at 12 units of X and it cuts the vertical axis at 20
units of Y. If the price of good x is $20 and the price of Y is $12, then what does income equal.
$240
We can't tell from the information given
$480
$720](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdb5529a7-0a25-4cbe-aee3-ad3d13c3318b%2F90c16875-75e9-4efd-b600-3c7b1ded0f6b%2Fzq7pyac_processed.png&w=3840&q=75)
Transcribed Image Text:The budget constraint line cuts the horizontal axis at 12 units of X and it cuts the vertical axis at 20
units of Y. If the price of good x is $20 and the price of Y is $12, then what does income equal.
$240
We can't tell from the information given
$480
$720
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