suppose a consumer can buy 5 units of goods X and 4 unit of good y, if he spends his entire income the price of good X is rupees 10 and that of Y is rupees 12.calculate the income of the consumer.

Dear Student

Consumers income  ={(price of x * quantity demanded or purchased of x) + (price of y * qty. purchased of y)

Consumers income = {(10 X 5 ) + (12 X 4) }

Consumers income = {50 + 48}

Consumers income = 98 Rs.

Hope it helps.

Regards

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