Suppose that a consumer purchases just two goods, X and Y. The Y-intercept of the budget line in this case would indicate the
1 answer:
Answer:
Y-intercept of the budget line would indicate the maximum quantity of good Y that the consumer can buy with the given income.
Step-by-step explanation:
Budget line is a graphical representation of the possible combinations of two goods X and Y which can be purchased with given income.
Its given that a consumer purchases just two goods, X and Y.
We need to tell that what does the Y-intercept of the budget line would indicate:
Solution:
Y-intercept of the budget line would indicate the maximum quantity of good Y that the consumer can buy with the given income.
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