8 BUDGET CONSTRAINT (Ch. 2) (a)pi= l, P2= 1, m= 15.(Use blue ink. (b)pi= 1, P2= 2, m= 20.(Use red ink. 1, 10.(Use black ink. d)pi p2, m= 15p1.(Use pencil or black ink. Hint: How much of good 1 could you afford if you spend your entire budget on good 1?) 5 Black line FRed Li 10 2.3(0) Your budget is such that if you spend your entire income, you can afford either 4 units of good a and 6 units of good y or 12 units of a d 2 units of y (a) Mark these two consumption bundles and draw the budget line in the 168 BUDGET CONSTRAINT (Ch. 2) (a) p1 = 1, p2 = 1, m = 15. (Use blue ink.) (b) p1 = 1, p2 = 2, m = 20. (Use red ink.) (c) p1 = 0, p2 = 1, m = 10. (Use black ink.) (d) p1 = p2, m = 15p1. (Use pencil or black ink. Hint: How much of good 1 could you afford if you spend your entire budget on good 1?) 0 5 10 15 20 5 10 15 x1 x2 20 Blue Line Red Line Black Line 2.3 (0) Your budget is such that if you spend your entire income, you can afford either 4 units of good x and 6 units of good y or 12 units of x and 2 units of y. (a) Mark these two consumption bundles and draw the budget line in the graph below. 0 4 8 12 16 4 8 12 x y 16