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Budget Line Equation     Calculator Instructions:

If you have two goods, x and y, each with a respective price, which follows the budget line, you can use this calculator to determine
any one of the five budget line items with the equation below.
I = Qx x Px + Qy x Py

where I = Total Income of the Consumer
Px = Price of item x.
Qx = Quantity of item x
Py = Price of item y.
Qy = Quantity of item y

EXAMPLE: Lets say you want to figure out how much income you need to buy 2 shirts at 5 dollars each and 3 pants at 6 dollars each.  You would press the Calculate Income.  Then you would enter 2 for quantity of x, 5 for price of x, 3 for quantity of y, and 6 for price of y and Press Calculate.  Your answer is 28.
  Related Formulas:

I = Qx x Px + Qy x Py
  Search Engine Shortcut Examples:

px=30,py=50,qx=70,qy=30
    
Enter 4 out of 5 below:
IncomePrice (x)Quantity (x)Price (y)Quantity (y)
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Tags:  budget, price, quantity


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