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3. (10 points) (a) If a consumer's income doubles, and the price of good X and good Y both double, will the budget line change
3. (10 points) (a) If a consumer's income doubles, and the price of good X and good Y both double, will the budget line change in any way? Please give an explanation. Equation of the budget line is B Y = PY (b) If you had an economic good, like food, and an economic "bad," like pollution, would you still have a downward sloping indifference curve? Please explain and show what the indifference curve for the economic good and the economic bad might look like in the graph given below. Economic good Economic bad
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