5. You have a monthly income of $400. You're deciding between different cell phone packages (who HASN'T done that recently!) Plan A: For a $50 monthly fee, you receive 100 free minutes and then calls are $0.10 per minute after that. Plan B: For a $100 monthly fee, you receive 200 free minutes and then calls are $0.05 per minute after that. a. Assume you have strictly convex preferences for cell phone minutes (X) and for the composite "all other goods" (Y) - whose price is $1/unit. On the same graph, plot the budget constraints under both plans. Now, with an appropriate indifference curve, show the case where you're indifferent between Plan A and Plan B. i. Which of the graphs (located at the end of these questions!) accurately portrays the budget constraints of Plan A and Plan B: a. TT b . C. G d. H ii. Which of the graphs (again, located at the end of these questions!) accurately depicts the case in which you're indifferent between Plan A and Plan B? a. b. K C. M 6. For parts (a) - (c) below, write down a mathematical expression for Pat's budget constraint. Then, in a clear diagram, illustrate her feasible budget set. a. Pat has $1000 per month, which he/she spends on lattes (x) and magazines (y)