Suppose a consumer has $450 to spend on two goods, Good X and Good Y. The price of Good X is given by Px= $5. The price of Good Y is given by Py=…

Suppose a consumer has $450 to spend on two goods, Good X and Good Y. The

price of Good X is given by Px= $5. The price of Good Y is given by Py= $20. Graph the

consumer’s budget constraint. Please put the quantity of Good X on the horizontal axis, and the

quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately.

What is the slope of the budget constraint?

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