Scenario 2 Suppose the government implements an income support program with the intention of making sure residents are able to purchase sufficient food. The government pays a cash benefit to all individuals with incomes less than $1000 according the following formula: cash benefit (CB) = $200 0.2*(earned income(l)) Households spend all of their income on food (F) and other goods (X). The price of food and other goods are normalized to 1. A households budget constraint is F+X= CB+| Households have the following preferences: U = 0.25*ln(F) + 0.75*ln(X) Question 47 1 pts Refer to Scenario 2 Suppose a household has earned income of $300. How much does this household receive in benefits? Answer in dollars and do not enter a '$' sign. E Question 48 1 pts Refer to Scenario 2 How much does the household spend on food? Answer in dollars and do not enter a '$' sign. E