Jacob receives an allowance of $5 per week. He spends all his allowance on ice cream cones and cans of Lemon Fizz soda.

a)If the price of ice cream cones is $0.5 per cone and the price of Lemon Fizz is $1 per can, draw a graph showing Jacob's budget line and write down his budget equation. Put ice cream cones on the horizontal axis.

b)Suppose that the price of ice cream cones rises to $1 per cone. Draw Jacob's new budget line and budget equation. You can draw the budget line on part a diagram if you prefer.

c)Suppose that Jacob's allowance climbs from $5 to $10 per week. Show how the increased allowance alters Jacob's budget line and budget equation, given the prices of ice cream cones and soda in part a). You can draw the budget line on part a diagram if you prefer.