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Graphing the BC. Suppose that an individual has a weekly income of $180 to spend on goods X and Y, which have prices of $2 and $6, respectively. In the space below, using a straight edge and proper scaling, graph the budget constraint. Suppose that the price of X increases to 6. On the same graph, draw the new budget constraint. Compute the slopes of the old and new budget constraints and label them on the graph.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91707320

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