Suppose a consumer has $200 in income and purchases 2 items: shirts and pants.Suppose the price of a shirt is $10 per shirt and the price of a pair of pants is $20 per pair of pants.

1.Putting shirts on the vertical axis and pants on the horizontal axis, draw this consumer's budget constraint.What is the equation that describes this consumer's budget constraint?

2.Coupons!

a.Suppose you have a coupon for 50% off of the price of pants.Draw the consumer's new budget constraint.What's happened to the slope of the budget line?

b.Suppose your 50% off discount only applies to your first 6 pairs of pants purchased.Draw the consumer's new budget constraint.

c.Suppose your 50% off discount only applies after you have purchased your first 6 pairs of pants.Draw the consumer's new budget constraint.