A consumer's budget set for two goods (X and Y) is 800 4X +2Y. a. Illustrate the budget set in a diagram. Instructions: Use the tool provided 'Budget Set' to draw the budget set from X = 0 to Y = 0. Draw only the endpoints.

b. Does the budget set change if the prices of both goods double and the consumer's income also doubles?

multiple choice

• No, it does not change
• Yes, it shifts out from the origin
• Yes, it rotates clockwise
• Yes, it shifts in toward the origin

c. Given the equation for the budget set, what are the prices of the two goods? Good X: $ Good Y: $

What is the consumer's income?