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Budget Constraint - Need help ASAP Budget constraint (part 2) Let x1 2 0 and 22 2 0 be the levels of consumption of good

Budget Constraint - Need help ASAP

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Budget constraint (part 2) Let x1 2 0 and 22 2 0 be the levels of consumption of good 1 and good 2, respectively. Income is I > 0 and the prices of good 1 and good 2 are p1 > 0 and p2 > 0, respectively. Suppose that the government penalizes the agent if she consumes less than 4 units of good 1. Specifically, for 21 0 on good 1 must be paid to the government. For x1 2 4, there is no penalty. Draw the budget line and, using the letters I, P1, P2, B, and t, clearly label your graph. You may make additional restrictions on the parameter values (e.g., B 4p1), but you CANNOT assume specific values

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