What is the meaning of budget …
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Posted by Padalam Kulesika 5 years, 10 months ago
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Yogita Ingle 5 years, 10 months ago
A budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income. Consumer theory uses the concepts of a budget constraint and a preference map to analyze consumer choices
An Economics tutor answered. Slope of a budget line is the "price ratio" of the two goods. ... Since the slope is constant we will get a straight line. The only case where a budget line may be non linear is the case of kinked constraints.
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