How to graph this. a consumer has income of 100 and can, Ask an Expert

Economics

How to graph this.

A consumer has income of $100 and can spend it on cell phone minutes, at $1 per minute, or DVDs at $10 per DVD.

Part 1: Draw this consumer's budget line (BL).

Part 2: Suppose now the price of a cell phone minute falls to $.50 per minute. Show how this will change the budget line.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M947275

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