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5 . May Lin has income of RM 3 , 0 0 0 . Orange juice costs RM 3 a glass, and chicken rice costs

5. May Lin has income of RM 3,000. Orange juice costs RM3 a glass, and chicken rice costs RM 6 a plate. Referring to this statement, answer the following questions:a) Draw the budget constraint of Ma y Lin. What is the slope of her budget constraint?b) Draw a May Lins indifference curve for orange juice and chicken rice. Describe and explain four properties of these indifference curves.c) Pick a point on an indifference curve for orange juice and chicken rice and show the marginal rate of substitution (MRS). what does the MRS of substitution tell us?d) Show a May Lins budget constraint and indifference curves for orange juice and chicken rice. Show the optimal consumption choice if the price of orange juice is RM 3 a glass and the price of chicken rice is RM 6 a plate and what is the MRS at this optimum?

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