Consider the situation: The US government spends over $74 billion on SNAP.The average snap benefit is $284 per month. Suppose that, in the absence of SNAP, the average consumer must divide $600 in monthly income between food and all other goods such that the following budget constraint holds: $600=$124A+$4F, where A is the quantity of "all other goods" and F is the quantity of food purchased.

a.With "all other goods" as the dependent variable (on the vertical axis), derive the equation of the budget line from the given budget constraint. Clearly show your steps/calculations. Provide economic interpretations of the coefficients in your derived budget line equation.

b.Manually draw the average consumer's budget line, in the absence of the Supplemental Nutrition Assistance (Food Stamp) Program, derived in (a). Clearly show your steps/calculations.

c.With the budget line in (b), graphically illustrate and state the average consumer's equilibrium (maximum satisfaction) condition in food consumption. With your diagram, carefully explain/justify the established condition as the average consumer's equilibrium condition.

d.With your diagram of the condition for the average consumer's equilibrium in (c), show how the Food Stamp Program alters the average consumer's equilibrium, given that food stamps cannot be legally exchanged for cash. Show your steps and carefully explain.

e.On the same graph in (d), show how the Food Stamp Program alters the consumer's equilibrium, if food stamps can be illegally exchanged for cash and food is an inferior good. Explain.