Explain why the budget line can be called objective but an, Business Economics

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Explain why the budget line can be called objective but an

Explain why the budget line can be called "objective" but an indifference curve is called "subjective." Explain why, if a consumer is to be in equilibrium, the marginal rate of substitution of good X for good Y must equal the negative ratio of the price of good X to price of good Y.

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