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Need all parts answered and hand written responses would be preferred. 23. (21 points) Damien consumes two goods: food and gas. His income is $500,

Need all parts answered and hand written responses would be preferred.

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23. (21 points) Damien consumes two goods: food and gas. His income is $500, which he spends on these two goods and has no funds left afterwards. The price of food is $1 and the price of gas is $3.50 per gallon. Round to the nearest tenth. Tip: Plot only after completing all items. (a) (3 points) What is his budget constraint? (b) (4 points) Plot his budget constraint. Make sure to label the axes, each curve, and important points, such as y- and xintercepts. (c) (3 points) Now suppose the price of gas increased to $4.50. What is his new budget constraint? (d) (4 points) Plot his new budget constraint. Make sure to label the axes, each curve. and important points, such as y and Xintercepts. f (e) (3 points) Finally, suppose that after the price of gas rose to $4.50, the price of food increased to $2. What is his new budget constraint? (f) (4 points) Plot his new budget constraint. Make sure to label the axes, each curve, and important points, such as y- and x-intercepts

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