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Now assume income falls to 200 and prices are constant draw

Assume M=400, Px=1,and Py=4. Graph the budget constraint with a solid line. Label both axes and intercepts. Now assume income falls to 200 and prices are constant. Draw the new budget constraint on the same axes as a dotted line. Label the new intercepts.

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Microeconomics: Now assume income falls to 200 and prices are constant draw

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