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1 Budget Constraint (a) Draw the budget line of a consumer who has income m = $200, and consumes good it at price pa: =

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1 Budget Constraint (a) Draw the budget line of a consumer who has income m = $200, and consumes good it at price pa: = $10 per unit, and the good y at price p3, = $25 per unit. (In your graph, put units of good x on the horizontal axis, and units of good y on the vertical axis.) (b) If income m were to increase from $200 to $300, and all prices remain constant, how would this change the consumer's budget set? (c) What is the slope of the budget line? ((1) If the price of good 3: increases from $10 to $20, will the slope of the consumer's budget line become atter or steeper

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