Graph budget constraint in given circumstance

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Reference no: EM131184666

You have $100 to spend on food and clothing. The price of food is $5, and the price of clothing is $10.

a. Graph your budget constraint.

b. Suppose that the government subsidizes clothing such that each unit of clothing is half-price, up to the first five units of clothing. Graph your budget constraint in this circumstance.

Reference no: EM131184666

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