In the previous problem, what is the bud get line if Richard's weekly income increases to $600?

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In the previous problem, what is the bud get line if Richard's weekly income increases to $600? What is his bud get line if his income is $500, but the price of food increases to $10 per pound? What is his bud get line if his income is $500, but the price of clothing increases to $20 per piece? Draw each of these bud get lines on the piece of graph paper used in the previous problem.
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Managerial Economics Theory Applications and Cases

ISBN: 978-0393912777

8th edition

Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield

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