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A's budget line has interceptes of 150 units of X and 300 units of Y price good Y is Rs 15 1 What is A's money income 2 Price of good X 3 Slope of budget line?
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Does a demand curve always have a positive slope?
Demand curves almost always have negative slopes. The Y value being price and the X value being quantity. The higher the price, the more negative the slope. There are very rare conditions where a demand curve could have a positive slope, but its not normally used in business classes.
What happens if a slope is undefined?
then the slope is x=y. there is no slope.
Can you give me an example of slope inclination?
Examples of slope: http://www.answers.com/topic/slope http://en.wikipedia.org/wiki/Slope
Does a horizontal line has a slope of zero?
Yes, it is true; slope zero is no slope.
What is the slope of a line x equals 5?
X=5 is a vertical line, so it has no slope. When I say it has no slope, I don't mean the slope is 0, I mean the slope is nonexistent.
What is a budget line and how is it useful in reaching consumer equilibrium?
it is a line showing all possible combinations of two goods(goods-1 and good-2) which a consumer can buy with his given money income and the price of the goods prevailing in the market.anywhere on the budget line the consumer spends his entire income on either good1 or good2 or both the goods. each point on the budget line indicates the different combinations of good1 and good2 which a consumer can buy with his income. in indifference curve analysis consumer attains his equilibrium when the slope of price line/budget line is equal to the slope of indifference curve.equilibrium is attained at that point where ic curve is tangent to the price line.....
A change in the slope of a budget line is solely the result of a change in?
A change in the slope of a budget line is solely the result of a change in the consumer preference between two goods (A&B) given the cosumer's money income.
What does the slope of a budget line reflect?
the price of goods on the x axis in terms of the good on the y axis
Explain the subsititution and income effect of decrease in price?
substitution effect is the explanation for the downward slope of the aggregate damnd curve.
What will an increase in price of one good do to the slope of the budget line?
The answer to your question will depend on whether you are a buyer or a seller, and whether you are currently in a profit or loss situation.
Explain the difference between elasticity of demand and the slope of a demand curve?
The demand curve is drawn with price on the vertical axis and quantity demanded on the horizontal axis. Mathematically, the slope of a curve is represented by rise over run, or the change in the variable on the vertical axis divided by the change in the variable on the horizontal axis. Therefore, the slope of the demand curve represents change in price divided by change in quantity. Elasticity, on the other hand, aims to quantify the responsiveness of demand and supply to changes in price, income, or other determinants of demand.
At the point of consumer equilibrium the slope of the budget line is equal to the?
Marginal rate of substitution
What does budget line show and what are its two basic properties?
Budget line(bl) is tangent to the indifference curve(ic) the slope of bl is same as that of ic.
Why is the slope of supply an unsatisfactory measure of the responsiveness in the quantity supplied of a commodity to a change in its price?
why is the slope of supply an unsatifactory measure of the responsiveness in quantity supplied of a commodity to a change in its price
What is the price of a dry ski slope?
to ski on it it depends where you go and when
Why do the demand curve slope downward?
The demand curve will have a downward slope indicating ________ . A. the expansion of demand with a fall in price B. contraction of demand with a rise in price C. the expansion of demand with a fall in price and contraction of demand with a rise in price D. rise in price causes a rise in supply
Demand curve slopes downwards from left to right. this is the negative slope that shows the inverse relationship between price and demand. explain why does the demand curve slope downwards?
because demand decreases as price increases :)
