Satish is very conscious about the food he eats. He only eats rotis and dal; a cup of dal costs Rs 2 while each roti costs Re 1 and Satish decides to spend only Rs 13 per day on food. Also he decides to consume exactly 5500 calories a day; he has been told that each roti has 1000 calories while each cup of dal has 500 calories. He spends his entire money allocated on foods. Then
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Budget constraint and consumer equilibrium has come up 99 times in 7 exams since 2004.
This question is on Budget set and budget line, part of Budget constraint and consumer equilibrium in Microeconomics.
Which bundles a consumer can afford, the slope of the budget line, and how income and price changes shift it.
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Question from the JNU SSS 2010 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.