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Draw a graph of this households budget budget

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Reference no: EM132249893

Consider a household that consumes food (x1) and housing (x2). Suppose that the corre- sponding prices of these goods are p1 = 5 and p2 = 50. M=1000. This household also receives $50 in food stamps, which can only be spent on food, and a $100 housing voucher, which is $100 that can only be spent on housing. Draw a graph of this households budget budget. Label the intercepts and any kinks (bends) in the budget constraint.

Reference no: EM132249893

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