Throw-back jerseys and bling-bling are normal goods

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Reference no: EM13985758

To Snoop Dogg, throw-back jerseys and bling-bling are normal goods.

a) Graphically, demonstrate how the budget constraint shifts if his income increases.

b) Choose an arbitrary benchmark point on the initial budget constraint as the consumption combination selected by Snoop Dogg.

c) Now find two points on the new budget constraint such that the new preferred choice of Snoop Dogg must fall between these points.

Reference no: EM13985758

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