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Draw the budget constraint for the following situation. The consumer has income $60. The price of...

Draw the budget constraint for the following situation. The consumer has income $60. The price of good 2 is constant and is equal to 5. The price of good 1 is also constant and is equal to 6, but for every 4 units of good 1 that you buy, you get a gift certificate for $10 that can only be used to purchase good 2. Label all important points.

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Answer #1

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