Suppose a consumer has preferences given by U(X,Y) = MIN[4X,Y]. Suppose Px = 2 and Py =
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Suppose a consumer has preferences given by U(X,Y) = MIN[4X,Y]. Suppose Px = 2 and Py = 1. Draw the Income Consumption Curve for this consumer for income values M = 60 . M = 90 . M = 120 To "do this", carefully draw the budget constraints associated with each of the prices for good X, and indicate the bundle that the consumer chooses in each case. Also, be sure to label your graph accurately.
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