Mike loves eating fried chickens and pizzas. Every month, he allocates a budget of $80 to spend on his favourite fast food?Kentucky's fried chicken meal and Domino's pizza meal.

Each meal at Kentucky cost $5 while each meal at Domino costs him $10.

28 Personal X M Inbox (9 X B220 12 X B220 L2 X 20 Personal X 28 Class Wc X 20 Learning X 28 Learning X (17) Who X * Homew x Snap to X H Men's St X + X > C a docs.google.com/presentation/d/13H_NTaYb97qcGV3uc5EbpaXLx98JeZQ2/edit#slide=id.p3 To B220 L2 presentation .PPTX * 4 Saved to Drive File Edit View Insert Format Slide Arrange Tools Help Last edit was seconds ago BH Present Share + nab - Q- - g Background Layout Theme Transition A 1 1 . 1 . 2 . 1 3 . 1 . 4 . 1 . 5 . 1 . 6 . 1 . 7 . 1 . 8 . 1 . 9 . 1 10 . 1 .11 . 1 .12 1 .13 . 1 .14 1 .15 . 1 . 16 . 1 .17 . 1 . 18 1 .19. 1 .20 . 1 .21. 1 .22 . 1 .23 . 1 24. 1 .25. OFFICIAL (CLOSED) \\ NON-SENSITIVE A PROBLEM STATEMENT 8 1 . 17 1 . 16 1 . 15 1 14 1 13 1 . 12 1 11 1 . 10 1 . 9 . 1 . 8 . 1 . 7 . 1 . 6 . 1 . 5 . 1 . 4 . 1 . 3 . 1 . 2 . 1 . 1 1. Scenarios A-E below show the changes in budget and/or price(s) from 2 the original scenario. . Scenario Change in Budget and/or Price(s) A Mike increases his budget on fast food by 25%. B Due to a promotion at Kentucky, the price of fried chicken meal decreases from $5 to $4. C Prices of both pizza and fried chicken meals increase by 100% D Price of fried chicken meal decreases from $5 to $4, and YOUR TASK O price of pizza increases from $10 to $16. E Price of fried chicken meal decreases from $5 to $4, and Mike decreases his budget by 25%. your analysis F Price of pizza increases from $10 to $15, and Mike decreases his budget by 25%. 3 Scenario B 19 . 1 5 Scenario B Click to add speaker notes + Type here to search 9 X D P ENG :22 PM 10/28/2020 E28 Personal X M Inbox (91 X 4 B220 12 X B220 L2 X 20 Personal X 28 Class Wc X 20 Learning X 28 Learning X @ (17) Wh X Homew x Snap to X H Men's St X + X > C a docs.google.com/presentation/d/13H_NTaYb97qcGV3uc5EbpaXLx98JeZQ2/edit#slide=id.p4 To B220 L2 presentation .PPTX * File Edit View Insert Format Slide Arrange Tools Help Last edit was seconds ago BH- Present Share + nab - ov mg Background Layout Theme Transition A 1 1 . 1 . 2 . 1 3 . 1 . 4 . 1 . 5 . 1 . 6 . 1 . 7 . 1 . 8 . 1 . 9 . 1 10 . 1 11. 1 12 1 .13 . 1 .14 1 .15 . 1 . 16 . 1 .17 . 1 .18 1 .19 . 1 .20 . 1 .21. 1 .22 . 1 23 . | 24. 1 .25. OFFICIAL (CLOSED) \\ NON-SENSITIVE YOUR TASK A PROBLEM STATEMENT 2 9 1 . 18 1 . 17 1 . 16 1 . 15 1 14 1 . 13. 1 . 12 1 11 . 1 10 1 . 9 . 1 . 8 . 1 . 7 . 1 . 6 . 1 . 5 . 1 . 4 . 1 . 3 . 1 . 2 . 1 . 1 . 1 . How can Mike optimise his consumption of pizza and fried chicken meals for each of the original and new scenarios? 1. Use Excel to plot the original and new budget line in the same w chart area (you may refer to the guide found in Activity 4). Describe the shift as complete as possible. [Y axis - KFC, X axis - Pizza] 2. The same chart area should also include 2 indifference curves YOUR TASK (you may use PowerPoint's Shapes tool to draw the curves). These 2 indifference curves must illustrate two different optimal consumption bundles (for original and new scenario). 5 3. Include relevant tabulated data in your analysis. Scenario B 5 Scenario B Click to add speaker notes + Type here to search 9 X D P ENG :22 PM 10/28/2020 E