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Draw marge budget line

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Reference no: EM132405787

1. When Marge created her budget, she allocated $56 of her income to be used towards apple and pumpkin pie. Assume the price of apple pie is $7 and the price of pumpkin pie is $8.

a. Draw Marge's budget line. Label both axes and both intercepts.

b. Assume the price of apple pie increases to $8. Add the new budget line to the graph drawn in part a.

Can someone explain for me?

Reference no: EM132405787

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