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A consumer purchase 2 goods: grapes (G) and mangos (M). The consumer has fixed money income of I dollars and the prices of grapes and
A consumer purchase 2 goods: grapes (G) and mangos (M). The consumer has fixed money income of I dollars and the prices of grapes and mangos are Pg and Pm respectively. 1.Write the equation for this consumer's budget constraint. 2.Show graphically and explain how a rise in the price of grapes affects the budget constraint. 3.Show graphically and explain how in increase in the consumer's fixed money income affects the budget constraint. Please provide the graphs
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