In terms of these questions in reference to consumer theory, how would they be solved?

5) Julie is at the grocery store purchasing meat for the next few days. She has lled her basket with 6) 7) all of the meat she can afford given her budget. Suppose that if she purchased and consumed the \"bundle\" in her basket, her marginal utility from eating salmon (let this be good x) would be at 100 utils per pound and her marginal utility from eating chicken breast (let this be good y) would be at 60 utils per pound. a. Given this information, what is the marginal rate of substitution between salmon and chicken breast (MRSsp) at her current bundle? b. Interpret your answer to part a. (What does this tell us?) Janine is at the grocery store purchasing vegetables for the next few days. She has lled her basket with all of the veggies she can afford given her budget. Suppose that if she purchased and consumed the \"bundle\" in her basket, her marginal utility from eating carrots would be at 20 utils per bag and her marginal utility from eating broccoli would be at 15 utils per stalk. If the price of carrots is $1 per bag and the price of broccoli is $0.50 per stalk, is this the optimal bundle for Janine to purchase? If not, what changes would you recommend she make and why? Consider Jackie's consumption of ice cream and cake. Suppose that the price of a pint of ice cream is Pi = 2, the price of a slice of cake is Pc = 4 and Jackie's budget for ice cream and cake is given by I = 20. a. Write an expression for Jackie's budget constraint, given these values. b. Draw J ackie's budget line for ice cream and cake, placing ice cream on the X-axis and cake on the yaxis. Be sure to label the y-intercept, the x-intercept and the slope. c. Suppose the price of ice cream increases to $4 per pint. Draw J ackie's new budget line and label the new intercept(s) and slope. d. Suppose J ackie's optimal consumption bundle was initially 3 slices of cake and 4 pints of ice cream. After the price of ice cream increased, Jackie's optimal bundle changed to 4 slices of cake and 1 pint of ice cream. i. Plot these consumption bundles on the graph and draw indifference curves associated with each bundle that are consistent with the details of this problem. (Assume diminishing marginal utility for both goods.) ii. What is the marginal rate of substitution between ice cream & cake when Jackie is consuming 3 slices of cake and 4 pints of ice cream? e. Using the information above, draw a curve that is consistent with Jackie's individual demand curve for ice cream. Be sure to plot two specic points on the curve and label the graph fully