What will happen to bills expenditure on housing

Reference no: EM13237178

Suppose that Bill has an income of $4000/month and spends his money on housing and food. Housing costs $1.50/sqft per month and food is $1.

Suppose that Bill is given a housing voucher equal to $750 a month by his employer. This is money that can only be spent on housing, but it comes with a reduction of $750 in monthly income. What will happen to Bills expenditure on housing (assuming housing is a normal good)?

Reference no: EM13237178

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