Draw a budget constraint that is consistent with the following prices and income.
Income = 200
P_Y = 50
P_X = 25
a.Demonstrate how your original budget constraint would change if income increases to 500.
b.Demonstrate how your original budget constraint would change if P_Y decreases to 20.
c.Demonstrate how your original budget constraint would change if P_X increases to 40.

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The Answer of Draw a budget constraint that is consistent with the following prices and income. Income = 200 P_Y = 50 P_X = 25 a.Demonstrate how your original budget constraint would change if income increases to 500. b.Demonstrate how your original budget constraint would change if P_Y decreases to 20. c.Demonstrate how your original budget constraint would change if P_X increases to 40.

Draw a Budget Constraint That Is Consistent with the Following