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recon12759
07.01.2021 •
Business
Suppose a consumer had a budget of $125. The price of Good X is $5 and the price of Good Y is $7.50. Calculate value of the x-intercept of the budget line.
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Ответ:
The value of the x-intercept of the budget line is 25.
Explanation:
Based on the question, the budget line equation is as follows:
X5 + Y7.5 = 125 (1)
Where;
X = Unit of commodity X or value of the x-intercept of the budget line
Y = Unit of commodity Y or value of the y-intercept of the budget line
To calculate value of the x-intercept of the budget line, we assume that Y = 0. Substituting Y = 0 into equation (1) and solve for X, we have:
X5 + (0 * 7.5) = 125
X5 = 125
X = 125 / 5
X = 25
Therefore, the value of the x-intercept of the budget line is 25.
Ответ:
the * a multiplication sign right?
if it is, divide both sides by 2
=23.125