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Microeconomics

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Moderate

Original Prankster

MICRO-NQHCLL

Ye Olde Joke Shop has two goods, Good J and Good K. Little Suzie is a prankster in training, and spends her weekly allowance at Ye Olde Joke Shop. Let the following graph be an example of Little Suzie's budget constraint.

What happens to Little Suzie’s budget constraint in the following scenarios?

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The price of Good J doubles.



The price of Good J and Good K double.



Little Suzie’s allowance doubles.