(Answered) A household allocates its 2000 monthly income to the

Economics

A household allocates its $2,000 monthly income to the purchase of three goods. Prices of these goods are $30, $40, and $20 per unit.

(a) Write the household monthly budget constraint.

(b) If this household purchases 40 units of good three each month, write its budget equation and graph it. What is the slope of the budget line?

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Microeconomics, Economics

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