The budget line illustrates all combinations of market baskets of two goods X and Y

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    that can be purchased with a given income level, represented by the equation I=Y+(Px/Py)X, where Px and Py are the prices of goods X and Y and I is income.
     that can be purchased with a given income level, represented by the equation I=PxX+PyY, where Px and Py are the prices of goods X and Y and I is income.
     that can be purchased with a given income level, represented by the equation I=Y-(Px/Py)X, where Px and Py are the prices of goods X and Y and I is income.
     that can be purchased with a given income level, represented by the equation Y= (I/Py) - (Px/Py)X, where Px and Py are the prices of goods X and Y and I is income.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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that can be purchased with a given income level, represented by the equation Y= (I/Py) - (Px/Py)X, where Px and Py are the prices of goods X and Y and I is income.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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