Q. A consumer’s income or budget is 120. She buys two goods, x and y, with prices 3 and 4respectively. Then the budget constraint can be expressed as (Solved)
1. 4x + 3y = 120
2. 3x + 4y = 120
3. 12x + 12y = 120
4. cannot be determined
- b. 3x + 4y = 120