4 Draw a budget line for 2 goods with prices of $1 and $2 for the first and second good, respectively, and income of $8 a Find some prices and income that will lead to a new budget line that intersects the old budget line ONLY at the midpoint of the old budget line b Can the old and new budget line have the same slope c Can the old and new budget line have the same prices d Can the old and new budget line have the same income and only one different price 4 Draw a budget line for 2 goods with prices of $1 and $2 for the first and second good, respectively, and income of $8 a Find some prices and income that will lead to a new budget line that intersects the old budget line ONLY at the midpoint of the old budget line b Can the old and new budget line have the same slope c Can the old and new budget line have the same prices d Can the old and new budget line have the same income and only one different price

Question

4  Draw a budget line for 2 goods with prices of $1 and $2 for the first and second good, respectively, and income of $8  a  Find some prices and income that will lead to a new budget line that intersects the old budget line ONLY at the midpoint of the old budget line  b  Can the old and new budget line have the same slope  c  Can the old and new budget line have the same prices  d  Can the old and new budget line have the same income and only one different price  4  Draw a budget line for 2 goods with prices of $1 and $2 for the first and second good, respectively, and income of $8  a  Find some prices and income that will lead to a new budget line that intersects the old budget line ONLY at the midpoint of the old budget line  b  Can the old and new budget line have the same slope  c  Can the old and new budget line have the same prices  d  Can the old and new budget line have the same income and only one different price

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Question

4. Draw a budget line for 2 goods with prices of $1 and $2 for the first and second good, respectively, and income of $8.

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