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consider again consumer ian has income m and consumes 2 goods labelled 1 and 2. assume as before that good 2 has price p2. good

consider again consumer ian has income m and consumes 2 goods labelled 1 and 2. assume as before that good 2 has price p2. good 1 priced at p1 upto consumption level z, where t greater than 0. sketch the budget set.

when t is greater than 0
when consumption of good 1 is rationed at z

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