Budget Lines and Equations Economics

How to calculate the budget line and prices if you know income. How to calculate income if you know prices and quantity consumed.
Like us on: / partymorestudyless

[@christopherpimentel347]

better than most of my economics professors...

[@sebastianstrand246]

Watch with speed at 1.25 ... you're welcome.

[@andycmwanzah]

very helpful indeed. keep it that way

[@Mcecil772]

Thanks it was really useful. I should have seen this video earlier

[@nafiatasnimkhan7316]

i have a little bit confusion . the answer of the first question was y=10-1x . and the main eqn is y= M/Py- PxX/Py . how can i calculate that M/Py =10

[@yudhistirasakmeniko4464]

Great video. Thank you

[@POLlyy23]

You sir, are awesome!

[@Prosper203]

i don't understand this when X=0 y=10 and when X=0 again Y=5

[@usmanalifaisal]

If you go to where 0 is on the X axis (the origin of the graph), you will realise that it is where the Y axis is drawn, at that point the curve shown in the diagram is at 10 on the Y axis hence when X=0, Y=10

[@williammcinnes5045]

Hi, I was just curious where I could find the homework questions? Sorry if this it is pretty obvious, but I just discovered your youtube channel.

[@economicsfun]

Carlos McInnes Thanks for your question. I did some of these videos really early on and intended them for my classes. Since then I have generalized the lectures.

[@williammcinnes5045]

That's makes a lot more sense. Great videos, thanks again!

[@theeconomicsofthings9752]

What textbook do you use?

[@lolot9169]

magic...

[@F.E.E]

I dont understand why M = 40*4 and the other assumption M= 20x*8 why not 4 again?

[@MrMarkgyuro]

with 200 it couldnt work. given price 20 with 8 max quantity and given price 40 with 4 max quantity. if you spend all your on x: 20*8=160. if you spend all your money on y: 40*4=160.

[@F.E.E]

György Márk thank you I cant believe I passed the Master exam😌

[@MrMarkgyuro]

@@F.E.E im glad, we have help each other :)

[@mikej4284]

I dont get it 3:51 to 4:09. where is 10 coming from?

[@3ollawi]

Mark Jeon so when you take a look at your budget line. You see that the maximum you can get of good Y is 10. Assuming you are spending all your money on Y, it would be your income or your money which is 200 ÷ 10 (max quantity of y). By dividing you literally just found the price of each quantity of good Y.