Graph the Budget Line


3. Empirical grounds for the US accept appearancen that medical costs accept increased further astride than other charges. You are asked to appearance how rising medical costs accept unsupposable consumer alternatives. Suppose X represents the aggregate of medical services, and Y represents the aggregate of other result. in restitution, let pay (M) be measured in hundreds of dollars, the charge of medical services and other result in provisions of dollars per tiny, delay M = 150, PX = 5, and PY = 4. (a) Graph the budget verse. Determine the market reprove of adherence. (b) In your graph appearance the budget set. (c) If PX doubles, what happens to the budget absorption. Appearance this pi in your graph. (d) What is the purport of the soar of the two budget absorptions?