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If p 1 = 5, p 2 =4, and Y=400 1. Draw the budget constraint. 2. Illustrate by drawing 2 budget constraints on a single
If p1 = 5, p2=4, and Y=400
1. Draw the budget constraint.
2. Illustrate by drawing 2 budget constraints on a single graph what happens if p1=5changes to p1 = 10 all else constant.
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