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  2. Topic
    Business
  3. Study Set
    Managerial economics
  4. Exam
    Exam 5: Theory of Consumer Behavior
  5. Question
    Use the Following Graph Showing Two Budget Lines, LR and LZ
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Use the Following Graph Showing Two Budget Lines, LR and LZ

Question 2

Question 2

Short Answer

Use the following graph showing two budget lines, LR and LZ to answer the following questions. The consumer's income is $720.
Use the following graph showing two budget lines, LR and LZ to answer the following questions. The consumer's income is $720.    -For budget line LR the price of Y is $______ and the price of X is $______. The equation for budget line LR is ________________________.
-For budget line LR the price of Y is $______ and the price of X is $______. The equation for budget line LR is ________________________.

Correct Answer:

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