Draw the budget set for the consumer in detail

Reference no: EM132206590

Question: There are two perfectly divisible goods. A consumer wants to buy as many units as possible of these two goods. The consumer has an initial wealth w S100. The price of good l is pi = $4 per unit. The price of the first 30 units of good 2 is P2-$2 per unit. If the consumer buys more than 30 units of good 2, the price of each extra unit of good 2 increases to p2 S4. Draw the budget set for this consumer in detail.

Reference no: EM132206590

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