Explain. 5) (1.5 pt.) John consumes two goods, x and y. The price of y is 1, but the price of depends on the quantity of x purchased. In particular, Pc = a) Write out the new budget constraint assuming income is M = 100. b) John says "I am indifferent between consuming only It and only y, but I strictly prefer either bundle to consuming an affordable bundle with positive amounts of both goods." Assume John's preferences satisfy completeness, transitivity, non-satiation, and decreasing marginal rates of substitution. How is this possible