Question: A consumer s budget set for two goods ( X and Y ) is 9 0 0 > = 6 X + 3 Y .
A consumers budget set for two goods X and Y is X Y
a The budget set is illustrated below. What are the values of A and B
A
B
b Does the budget set change if the prices of both goods double and the consumers income also doubles?
multiple choice
Yes, it shifts out from the origin.
No it does not change.
Yes, it shifts in toward the origin.
Yes, it rotates clockwise.
c Given the equation for the budget set, what are the prices of the two goods?
Good X: $
Good Y: $
What is the consumers income?
$
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