Rebeccacurrently earns $48 per month and is interested in athletics. She consumes only two --Protein shakes and multivitamins.

Questions:

(a) Give any two assumptions used in the Consumer Choice model

(b) Derive (construct) Rebecca's budget constraint for the two goods. Assume that each protein shake costs $4 and each bottle of multivitamins costs $8. You can use a chart or a diagram

(c) Explain how the Consumer Choice Model illustrates the basic economic concepts of scarcity, choice and opportunity cost