Mary is a gardener. The graph shows Mary's preferences for roses and silver bells (two types of flowers) and her initial budger constraint. Each of the lines I, I2, I3, and L4 represents an indifference curve. The line BL represents the budget constraint line Initially, the price of roses is $12 and the price of silver bells is $20. Mary has an income of $120. Suppose a shortage drives price of silver bells up to $60. Demonstrate the effect on the budget constraint and then move point A to the new consumption choice. 10 4. 3 1 BL 4. 6. 7 8 10 Quantity of silver bells Quantity of roses 5.

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