Edmund must pay $6 each for punk rock video cassettes, ????. Edmund is paid $24 per sack for accepting garbage, ????, and his relatives send him an allowance of $48. Write an equation for Edmund’s budget line.

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22-02-2020
Business

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Edmund must pay $6 each for punk rock video cassettes, ????. Edmund is paid $24 per sack for accepting garbage, ????, and his relatives send him an allowance of $48. Write an equation for Edmund’s budget line.

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adeosawaru adeosawaru · Answer 1 · 2020-02-22T07:12:35+01:00

Answer: Edmond's budget line equation is 6V - 24G = 48

Explanation: A Budget Line is also called as Budget Constraint. It shows all the combinations of two commodities that a consumer can afford at given market prices and within the particular income level.

Let Punk video cassette = V

Garbage = G

Therefore, Edmond's budget line equation will be a combination of the punk video cassette less the garbage he is paid for equal to his allowances

6V - 24G = 48