1 Suppose that Robby's preferences are represented by the following utility function: = 2 + 8 where x and y are, respectively, the amounts of nutritious food and junk food Robby consumes per day. Assume that Robby has $12 to spend on food every day; the price of nutritious food is $4 per unit and the price of one unit of junk food is $1. a. Draw Robby's budget line. What is the numerical value of Robby's opportunity cost of nutritious food in terms of junk food? What is this opportunity cost in words? b. What is the equation of Robby's MRSX,Y? What is his MRSX,Y in words? c. Does your equation of Robby's MRSX,Y suggest that Robby's indifference curves are linear or non-linear? Explain. d. Find the optimal consumption bundle chosen by Robby. Given that he cannot consume negative amounts of any good, how many units of the two types of food will he consume every day? Illustrate your answer on the graph of part a by including the indifference curve that Robby attains at his optimal point. e. Now find the demand for nutritious food as a function of the price of the two kinds of food