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Draw a Budget Constraint That Is Consistent with the Following

Question 97

Essay

Draw a budget constraint that is consistent with the following prices and income.
Income = 200
PY = 50
PX = 25
a.Demonstrate how your original budget constraint would change if income increases to 500.
b.Demonstrate how your original budget constraint would change if PY decreases to 20.
c.Demonstrate how your original budget constraint would change if PX increases to 40.

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