1. Consider two goods, Brawndo energy drinks (which are known as \"The Thirst Mutilator\") and beef jerky. Brawndo energy drinks cost $2 a can, while beef jerky costs $5 a pack. Joe Bauers, a typical American consumer, has a budget of $20 he can spend on these two goods. a. Draw Joe's budget constraint. Put Brawndo on the y-axis and beef jerkey on the x-axis. What does the absolute value of the slop of the indifference curve equal? 13. Using an indifference curve, show an optimal point for J oe's consumption. What does the marginal rate of substitution equal at this point? Hint: in class, we said the slope of the indifference curve equals the slope of the budget constraint at the consumer's optimal point. c. Suppose Joe's income increases to $30 and both Brawndo energy drinks and beef jerky are normal goods. Redraw your graph in part a. to show the effect on this increase in income for consumption of energy drinks and beef jerky at Joe's new optimal point. d. Thanks to a technological advance that increases beef jerky production, the price of beef jerky is now $2 a pack instead of $5. Joe has $20 in income as in part a. Redraw your graph from part a. to show Joe's new optimal point following this price decrease. Describe the income and substitution effects. Why does the substitution effect lead to Joe drinking less Brawndo now