(Answered) Assume m90 px2and py3 graph the budget constraint with a

Economics

Assume M=90, Px=2,and Py=3. Graph the budget constraint with a solid line. Label both axes and intercepts. Now assume income is constant, Px decreases to 1 and, and Py increases to 4. Draw the new budget constraint on the same axes as a dotted line. Label the new intercepts.

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