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Again draw Sally's budget constraint diagram.Next, graph the effect of a decrease in the price of burgers to $5.00 for Sally assuming Sally's original income
Again draw Sally's budget constraint diagram.Next, graph the effect of a decrease in the price of burgers to $5.00 for Sally assuming Sally's original income level. Draw the original and new budget constraint in same diagram.Indicate Sally's budget (consumption) sets before and after the decline in the price of burgers. How will this change affect Sally's ability to consume burgers and onion rings? What is the effect of the decline in the price of burgers on the relative price of burgers to onion rings? Onion rings to burgers
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