Suppose income = $100, PX = $2.00 if the consumer buys less than 20 units of X, PX = $4.00 if the consumer buys more than 20 units of X. With income or composite good Y on the Y-axis, draw the budget constraint. Label ALL intercepts.

To draw the budget constraint with income or composite good Y on the Y-axis, we need to plot two points: the intercept of the budget constraint when the consumer buys less than 20 units of X and the intercept when the consumer buys more than 20 units of X.

Given the following information:
- Income (Y) = $100
- Price of X (PX) = $2.00 if the consumer buys less than 20 units of X
- Price of X (PX) = $4.00 if the consumer buys more than 20 units of X

First, let's find the intercept when the consumer buys less than 20 units of X:
Assuming the consumer spends all of their income on X and Y, the equation for the budget constraint is:
Y = Income - (Quantity of X * Price of X)

For the first intercept:
Quantity of X = 20 units
Price of X = $2.00
Substituting these values into the equation, we get:
Y = $100 - (20 * $2) = $100 - $40 = $60

So, the first intercept is at (0, $60).

Next, let's find the intercept when the consumer buys more than 20 units of X:
For this intercept:
Quantity of X = 20 units
Price of X = $4.00
Substituting these values into the equation, we get:
Y = $100 - (20 * $4) = $100 - $80 = $20

So, the second intercept is at (0, $20).

We can now plot these two intercepts on a graph with the Y-axis representing income or composite good Y. The first intercept is at (0, $60) and the second intercept is at (0, $20).

Now, draw a straight line connecting these two intercepts. This line represents the budget constraint of the consumer.

Remember to label all the intercepts on the graph appropriately.