Match the followingABBudget lineMRSPrice ratioP1X1+P2X2 = MDemand func – InterviewSolution

1.

Match the followingABBudget lineMRSPrice ratioP1X1+P2X2 = MDemand functionP1/p2Slope of IC\(\frac{\triangle Q}{\triangle P}\)\(\times \frac{P}{Q}\)Price elasticity of demandQ = f(P)Budget constraintMRSxv = p1/p2Consumer's equilibriumP1X1 + P2X2 = M

Answer»

A	B
Budget line	MRS
Price ratio	P₁X₁+P₂X₂ = M
Demand function	P₁/p₂
Slope of IC	\(\frac{\triangle Q}{\triangle P}\)\(\times \frac{P}{Q}\)
Price elasticity of demand	Q = f(P)
Budget constraint	MRS_xv = p₁/p₂
Consumer's equilibrium	P₁X₁ + P₂X₂ = M

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