The Boxing Ring Boxing Equipment Store has two goods, Good K and Good O. Cassius is an up and coming boxer, and spends his entire month’s income at The Boxing Ring Boxing Equipment Store. Let the following graph be an example of Cassius' budget constraint.
What happens to Cassius’ budget constraint in the following scenarios?
The price of Good K halves.
The price of Good O halves.
Cassius’ income doubles, but so do the prices of Good K and Good O.