A consumer has $1,000 a week to spend on renting square feet of housing x₁ (at a price of $5 per square foot) and eating out meals x₂ (at a price of $20 per meal).Derive the budget line equation and find the opportunity cost of housing in terms of meals in your equation.

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The Answer of A consumer has $1,000 a week to spend on renting square feet of housing x₁ (at a price of $5 per square foot) and eating out meals x₂ (at a price of $20 per meal).Derive the budget line equation and find the opportunity cost of housing in terms of meals in your equation.

A Consumer Has $1,000 a Week to Spend on Renting