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01?. The following diagram shows three indifference curves for a consumer and their weekly budget line: DVDs I3 IZ 0 2 Clothes a) If the

01?. The following diagram shows three indifference curves for a consumer and their weekly budget line: DVDs I3 IZ 0 2 Clothes a) If the price of DVDs is 15, what is the consumer's weekly budget? Show your workings ( 7 marks) b) Explain what the equilibrium market bundle is and describe how it is determined (7 marks) 0) Which indifference curve does the consumer prefer? Which indifference curve allows the ccmsumer to choose an Optimal bundle of DVDs and clothing given their weekly budget? Briefly explain your answer (7 marks) d) What is the price of one piece of clothing? Show your workings (7 marks) e) Write down the equation for the consumer's weekly budget line. What is the slope of their budget line? Show your workings (7 marks)

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