7. Brianna is a foodie with very particular preferences. In fact, she only ever buys one jar of salsa (X) and four bags of chips (Y). She likes jars of salsa and chips, but she gets no additional happiness from more than four bags of chips per jar of salsa and no additional happiness from more than 1 jar of salsa per four bags of chips. Brianna's utility function is U = min{4X, Y}. a. What kinds of goods are jars of salsa and chips for Brianna? b. What is Brianna's utility if she uses the following combinations of X and Y: X Y U= min{4X,Y). 2 8 Ex: U= min(4 2,8)= min(8,8)=8 2 12 4 8 c. Graph Brianna's indifference curve for U = 8 and label it U = 8. d. Write an equation that shows the consumption ratio between X and Y for Brianna, given her preferences. That is, write an equation that shows how much Y she has for every X (the corners of the indifference curve). Y = Bags of Chips 22 21 20 19 18 17 16 13 12 e. If Brianna has $36 to spend on X and Y, and Brianna's budget constraint is BC1. Px and Py= f. How much X and how much Y will Brianna choose? Explain and show Brianna's choice on the graph using an indifference curve and BC1. Label her optimal consumption point, A. 01234567890 How much utility does Brianna have at point A? Show your work. X=Jars of Salsa Label her indifference curve U = # where # is the amount of utility she has a point A. BCI 78961234 (7722222 g. What will Brianna choose if the price of a bag if chips (Py) increases to $4? Explain and draw in a new BC2. Label the optimal consumption point B.and the indifference curve "U = #" where # is the amount of utility she has a point B. h. What is Brianna's substitution and income effect from the price increase?