Suppose a consumer can buy 5 units of good x and 4 units of good y, if he spends his - Economics - Theory of Consumer Behaviour

Question

Suppose a consumer can buy 5 units of good x and 4 units of good
y, if he spends his entire income the price of good x in Rs 10 n
good y is Rs 12 calculate income of the consumer

Shreya · Accepted Answer

hello nancy
consumers income ={(price of x X quantity demanded or purchased
of x) + (price y X qty purchased of y)
= {(10 X 5 ) + (12 X 4) }
= {50 + 48}
= 98 Rs
hope it helps

Suppose a consumer can buy 5 units of good x and 4 units of good y, if he spends his entire income. the price of good x in Rs.10 n good y is Rs.12. calculate income of the consumer.