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c) Suppose the government wants to limit the amount of Good X that is purchased, so they enact a program where the price of Good X goes up to $4 for any amount of Good X greater than X-10 units. So Px $2 if X 10, but Px-$4 for all units of X purchased where X> 10. Draw the consumer's budget constraint. Be sure that your graph is accurate and carefully labeled.

c) Suppose the government wants to limit the amount of Good X that is purchased, so they enact a program where the price of Good X goes up to $4 for any amount of Good X greater than X-10 units. So Px $2 if X 10, but Px-$4 for all units of X purchased where X> 10. Draw the consumer's budget constraint. Be sure that your graph is accurate and carefully labeled.

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Suppose the government wants to limit the amount of Good X that is purchased, so they enact a program where the price of Good X goes up to $4 for any amount of Good X greater than X = 10 units. So Px $2 if X 10, but Px $4 for all units of X purchased where X> 10. Draw the consumer's budget constraint. Be sure that your graph is accurate and carefully labeled.
Transcribed Image Text:Suppose the government wants to limit the amount of Good X that is purchased, so they enact a program where the price of Good X goes up to $4 for any amount of Good X greater than X = 10 units. So Px $2 if X 10, but Px $4 for all units of X purchased where X> 10. Draw the consumer's budget constraint. Be sure that your graph is accurate and carefully labeled.
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