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Alla [95]
3 years ago
13

Assume the following is the Budget Equation for a consumer: 170 Tequila + 32 Vodka = 2,810 What would be the intercept of the bu

dget line on the Tequila axis?
Business
1 answer:
Agata [3.3K]3 years ago
3 0

Answer:

Explanation:

Let:

y=Tequila\\x=Vodka

So:

170y+32x=2810

This is an equation of a line. Let's represent it in its Slope–intercept form:

Subtract\hspace{3}32x\hspace{3}from\hspace{3}both\hspace{3} sides:\\170y=2810-32x\\\\Divide\hspace{3}both\hspace{3}sides\hspace{3}by\hspace{3}170\\\\y=\frac{281}{17}-\frac{16}{85}x

In order to find the intercept of the budget line on the Tequila axis, we need to evaluate the function for x=0, so:

y=\frac{281}{17} -\frac{16}{85} (0)=\frac{281}{17} \approx16.53

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