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Mona Lisa has a monthly income of $200, which she allocates between two goods: meat (M) and potatoes (P). Suppose meat costs $4 per pound
Mona Lisa has a monthly income of $200, which she allocates between two goods: meat (M) and potatoes (P).
Suppose meat costs $4 per pound and potatoes cost $2 per pound. Draw her budget line(place potatoes on the horizontal axis). Draw her new budget line if her income falls to $100
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