Show how the consumer-s opportunity set changes


A consumer must divide $250 between the consumption of product X and product Y. The relevant market prices are Px = $5 and Py = $10. write the equation for the consumer's budget line. Illustrate the consumer's opportunity set in a carefully labeled diagram. Show how the consumer's opportunity set changes when the price of good X increases to $10. How does this change alter the maket rate of substitution betwee goods X and Y?

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Microeconomics: Show how the consumer-s opportunity set changes
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