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1. BUDGET CONSTRAINT (10 POINTS) Say that you have an income of $300, all of which you Spend on 2 goods: m1 and 1:2. The price of 1:1 is $1 and the price of 3:2 is $10. (a) {2 POINTS) Write down an Equation for your budget constraint. (b) {2 POINTS) If the consumption of 1:1 is plotted on the :raxis and the consumption of 3:2 is plotted on the yaxis, what is the lepe of the budget constraint? (c) (3 POINTS) What is the minimum quantity subsidy of s on 1:2 that makes the consumption bundle of 20 units of 2:1 and 20 units of 31:2 affordable to you if your income is $300, the price of 1:1 is $1, and the presubsidy price of 31:2 is $10. (d) {3 POINTS) Say that the government imposes a quantity tax of t on the consumption of 1:1. If you spend all of your $300 income on 1:1 and the pretax price of 2:1 is $1, you can afford to buy 100 units of 2:1 after the tax is imposed. What is the numerical value of t? Earinure '.;"'.."inri