Suppose a consumer's preferences are given by U(X,Y) = X*Y. Therefore the MU_X = Y and MU_Y = X. Suppose the price of good Y is $1 and the price of good X is $2. Sketch the income-consumption curve for the values

• M = $60
• M = $80
• M = $100

To do this, carefully draw the budget constraints associated with each of the values of M, and indicate the bundle that the consumer chooses in each case. Also, be sure to label your graph accurately.