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12th Class Economics Solved Paper - Economics 2015 Delhi Set-I

  • question_answer
    Give equation of Budget Line.

    Answer:

    The equation for budget line is as follows.
                \[{{P}_{1}}{{X}_{1}}+{{P}_{2}}{{X}_{2}}=M\]
    Where,
                \[{{P}_{1}}\] represents price of good 1\[{{X}_{1}}\] Quantity of good 1
                \[{{P}_{2}}\] represents price of good 2\[{{X}_{2}}\] Quantity of good 2
                M represents income of the consumer


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