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2) A person has $ 100 to spend on two goods X and Y whose respective prices are $3 and $5. a.Draw the budget line.

2)A person has $ 100 to spend on two goods X and Y whose respective prices are $3 and $5.

a.Draw the budget line.

b.What happens to the original budget line if the budget falls by 25%?

c.What happens to the original budget line if the price of X doubles?

d.What happens to the original budget line if the price of Y falls to $4?

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