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I need it within an hourthanks so much A consumer's indifference curves are shown below. Only two curves are drawn. Other curves at different utility

I need it within an hourthanks so much

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A consumer's indifference curves are shown below. Only two curves are drawn. Other curves at different utility levels could be drawn similarly. y 'y/x = 2/1 4 y/x = 1/2 2 U2 U1 O 2 X (a) This consumer has $4 to spend on good x and good y. The price of x is $2. The price of y is $1. Draw the budget line and indifference curves in your submitted worksheet and show the optimal choice for the consumer. (b) Now, price of x falls to $0.8. Draw the new budget line and show the optimal choice for the consumer. (c) Calculate numerically the new consumption quantities for x and y. Show your procedure of deriving the final answers. (d) Calculate numerically the amount of quantity change in x due to (i) substitution effect and (ii) income effect

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