1. You've got just enough money so that you can either buy 4 cups of coffee and 6 hot chocolates, or 12 coffees and 2 hot chocolates. (a) Write these two budget constraints. (b) What is the ratio of the price of coffee to hot chocolate? (c) If you spent all your money on coffee, how much could you buy? (d) If you spent all your money on hot chocolate, how much could you buy? (e) Using coffee as the numeraire, solve for the income and price of hot chocolate