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How will you construct the price line? - Economics

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Questions

How will you construct the price line?

How will you construct the budget line?

Very Short Answer
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Solution

The price line is formed by connecting two points on the X-axis and Y-axis. Points are generated by spending the entire amount on X-commodity and nothing on Y-commodity, and vice versa.

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Chapter 5: Theory of Consumer's Behaviour : Indifference Curve Analysis - TEST QUESTIONS [Page 5.18]

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R. K. Lekhi and P. K. Dhar Economics [English] Class 12 ISC
Chapter 5 Theory of Consumer's Behaviour : Indifference Curve Analysis
TEST QUESTIONS | Q B. 5. | Page 5.18
R. K. Lekhi and P. K. Dhar Economics [English] Class 12 ISC
Chapter 5 Theory of Consumer's Behaviour : Indifference Curve Analysis
TEST QUESTIONS | Q A. 5. | Page 5.17
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