please answer all the following following.

1. A student has an income of $100 and buys only 2 goods: pizza and books. A pizza costs $2 a slice and books cost $10 each. At the student's present level of consumption, his marginal utility of pizza is 4 and his marginal utility of books is 2.

a. At the current level of consumption, is the student maximizing his level of utility given his budget constraint?

b. Draw a graph showing his current consumption point using indifference curves and the budget constraint.

2. Suppose that Bob has $200 budget to spend on hotdogs and soda. Hotdogs are $4 each and soda are $2 each. If Bob's utility function is , then calculate the quantity of hotdogs and soda that Bob needs to buy in order maximize his utility.

3. Jeremy derives all of his utility from consuming milk shakes; he devotes his entire $20 allowance to milk shakes each week. Suppose the price of milk shakes rise from $2 to $4. Compute Jeremy's Compensating Variation and Equivalent Variation.

4. What does it mean to say the labor supply is backwards bending? How does this relate to the direction and magnitude of the income and substitution effects? Will the labor supply be backwards bending if Leisure is a normal good?