Question: A consumer's budget set for two goods ( X and Y ) is 800 4 X + 2 Y . a. Illustrate the budget set

A consumer's budget set for two goods (X and Y) is 800 4X +2Y. a. Illustrate the budget set in a diagram.

Given the equation for the budget set, what are the prices of the two goods?

What is the consumer's income?

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