1. Assume that the budget remains at £30 and the price of X stays at £2, but that Y rises in price to £3. Draw the new budget line.\n2. What will happe
1. Assume that the budget remains at £30 and the price of X stays at £2, but that Y rises in price to £3. Draw the new budget line.
\r\n2. What will happen to the budget line if the consumer’s income doubles and the price of both X and Y double?