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Every month Martin spends his income on two consumption goods, food and clothing. Find an expression for his budget constraint and illustrate it in a
Every month Martin spends his income on two consumption goods, food and
clothing.
Find an expression for his budget constraint and illustrate it in a figure with
units of food = X1 on the horizontal axis, and units of Clothing = X2 on the
vertical axis.
What does it mean being off the budget constraint?
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