Question: need help with A B and C l0] 2. Household Consumption and Budget Constraints George lives on eggplants and soursop, P5 = $5, P3 =
need help with A B and C
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l0] 2. Household Consumption and Budget Constraints George lives on eggplants and soursop, P5 = $5, P3 = $10, and her income is $200. A. Identify his budget constraint equation and illustrate George's budget line on a graph with eggplants on the horizontal axis and soursop on the vertical axis. [6] B. Identify and illustrate on a new graph George's new budget constraint if his income doubled, the price of eggplants doubled, and the price of soursop remained constant. [7] C. Explain the impact on his real income when the price changed in the scenario in B assuming income had remained constant. [4]
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