We wish to model a consumer's choice between a product (call it good X) at different...

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We wish to model a consumer's choice between a product (call it good X) at different prices, and the composite good, priced at $1 per unit. Suppose a consumer has a disposable income in each period of $3,000 and the price of good X is initially $5.00 per unit. Draw up a budget constraint showing this consumer's feasible set-in a given period. Put good X on the horizontal axis and the composite good on the vertical axis. We wish to model a consumer's choice between a product (call it good X) at different prices, and the composite good, priced at $1 per unit. Suppose a consumer has a disposable income in each period of $3,000 and the price of good X is initially $5.00 per unit. Draw up a budget constraint showing this consumer's feasible set-in a given period. Put good X on the horizontal axis and the composite good on the vertical axis.