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QUESTION 3 Show all your calculations. Phineas receives $100 per week from his parents. He spends his entire income on two goods: Sprite (which cost

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QUESTION 3 Show all your calculations. Phineas receives $100 per week from his parents. He spends his entire income on two goods: Sprite (which cost $2 each) and chicken burgers (which cost $4 each). a) Draw Phineas's budget constraint. Suppose that Phineas decides to purchase 20 Sprites and 20 chicken burgers this week. Is this choice within Phineas's opportunity set? Explain and show this choice on your graph. (Do not forget to label the axes of your graph) b ) What is the opportunity cost of purchasing a chicken burger? c) If the opportunity cost of purchasing a chicken burger has decreased, which of the following would have increased: his income or the price of a chicken burger or the price of a Sprite

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