2. Jennifer buys two goods, food (F) and clothing (C), with the utility function U(F, C) = FC. Assume initially that she has an income of $72, the price of clothing is Po = $1 per unit, and the price of food is initially PF, = $9 per unit and that the price subsequently falls to PF, = $4 per unit. Use this information and the accompanying graph to answer the following questions. C C B U 2 . . . . . . . 2... U BL BLd BL 2 (a) Find the equation for budget line (BL1) when the price of food is $9. (b) Find the initial consumption bundle A when the price of food is $9. (c) Find Jennifer's utility (U1) at consumption bundle A. (d) Find the equation for budget line (BL2) when the price of food is $4. (e) Find the consumption bundle C when the price of food is $4. Find Jennifer's utility (U2) at consumption bundle C. (f) Find the equation for budget line (BLa) when the price of food is $4 and income is (Id). (g) Find the consumption bundle B using budget line (BLa) and U1 = FC (h) Find the income and substitution effects and show that Price Effect (PE) = Income Effect (IE) + Substitution Effect (SE)