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Given a budget constraint x 1 p 1 + x 2 P 2 m, are the following statements true or false? (a) If p doubles,

Given a budget constraint x1p1 + x2P2 m, are the following statements true or false?

(a) If p doubles, the area of the feasible set falls by half.

(b) If m doubles, the area of the feasible set doubles.

(c) If p doubles but p2 falls by half, the feasible set remains the same.

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