1: Suppose a consumer purchases food and cloth as a bundle. Where, bundle "A" consists of 50 units of food and 50 units of cloths; bundle "B" consists of 70 units of food and 40 units of cloths and bundle "C" consists of 80 units of food and 40 units of cloth. In period 1, price of food and cloth is $1 for both the bundles. In period 2, price of food is$1 and price of cloth is $4. In period 3, price of food is $2 and price of cloth is $1. In period 1, bundle "c" is unaffordable, and bundle "A" is regarded as the optimum bundle. Whereas, in period 2, bundle "A" is unaffordable, and Bundle "B" is regarded as optimum. Finally, in period 3, Bundle "c" is chosen as the optimum bundle. Rest of the bundles in all the periods regarded as affordable bundles. a. Applying the revealed preference concept, calculate the total expenditure incurred by the three bundles in each period. (1) b. Find out which bundle is revealed preferred over the others in both period 2 and 3. Justify. Your answer. (1) c. Is the Stron