Enter 4 out of 5 budget line values:

Income
Price (x)
Quantity (x)
Price (y)
Quantity (y)
  

Given Budget Line Values:

Px = 30, Py = 50, Qx = 70, Qy = 30

Calculate Income

Budget Line Equation:

I = Px x Qx + 50 x Py x Qy
where:
I = Income
30 = Price of item x
70 = Quantity of Item x
50 = Price of item y
30 = Quantity of Item y

Plug in values

I = 30 x 70 + 50 x 30

I = 2100 + 1500

I = 3600


You have 2 free calculationss remaining


With a Total Income of 3600
you can buy 70 items of x at a price of 30
and 30 items of y at a price of 50

What is the Answer?
I = 3600
How does the Budget Line Equation Calculator work?
Free Budget Line Equation Calculator - Solves for any one of the 5 items in the standard budget line equation:
Income (I)
Quantity of x = Qx
Quantity of y = Qy
Price of x = Px
Price of y = Py
This calculator has 5 inputs.

What 1 formula is used for the Budget Line Equation Calculator?

I = Qx x Px + Qy x Py

For more math formulas, check out our Formula Dossier

What 5 concepts are covered in the Budget Line Equation Calculator?

budget
an estimate of income and expenditure for a set period of time. In economics, a budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income.
budget line equation
Equation showing all the combinations of goods and services that a consumer may purchase given current prices within his or her given income
I = PxQx + PyQy where I = Income, P denotes price, Q denotes quantity
equation
a statement declaring two mathematical expressions are equal
price
the amount of money expected, required, or given in payment for something
quantity
amount of something
Example calculations for the Budget Line Equation Calculator
  1. px=30,py=50,qx=70,qy=30

Budget Line Equation Calculator Video


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