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2 Question 2 (36 points) For each of the following situations, draw the consumer's budget constraint and indicate the consumer's optimal bundle on the budget

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2 Question 2 (36 points) For each of the following situations, draw the consumer's budget constraint and indicate the consumer's optimal bundle on the budget constraint. Draw the indifference curve that goes through the optimal bundle. Make sure your graph is accurate (drawn to scale) and clearly labeled. 2.1 (12 points) U(X, Y) = MIN(5X, 4Y). The consumer has $70 to spend & the prices are Px = $4, Py = $5

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