Q1 Tim likes spare ribs, R, and fried chicken, C. His utility function for R and C is given by: U(R, C) = IORZC Moreover, his weekly budget for ribs and chicken is $90. a. If Tim is paying $10 for a slab of ribs and $5 for a chicken, what is his optimal consumption bundle? Show his budget line, indifference curve and optimal bundle, a, in a diagram. b. Suppose the price of chicken increases to $10. How does Tim's optimal consumption of chicken and ribs change? Show his new budget line, and optimal bundle, b, in your diagram