Bob spends all his monthly income of $96 on two goods, x and y. The price of y is $12 per unit. He can purchase good x e
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Bob spends all his monthly income of $96 on two goods, x and y. The price of y is $12 per unit. He can purchase good x e
Bob spends all his monthly income of $96 on two goods, x and y.The price of y is $12 per unit. He can purchase good x either at agovernment-run store or on the free market, but not both. The priceof x is $4 per unit at the government store but he can only buy upto 6 units. In the free market, the price of x is $8 per unit. DrawBob's budget constraint and lable it.