You have 600 to spend on beans and rice price of beans is

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1. You have $600 to spend on beans and rice. The price of beans is $40 and the price of rice is $30.

a) Graph your budget constraint with books on the vertical axis

b) Suppose that the government subsidizes beans such that each unit of beans are half-price, up to the first 2 units (any additional units are full price). Graph your budget constraint in this circumstance.

Reference no: EM13388687

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