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 PY decreases to 20.
c. Demonstrate how your original budget constraint would change if PX 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 PY decreases to 20. c. Demonstrate how your original budget constraint would change if PX increases to 40.

Draw a Budget Constraint That Is Consistent with the Following