Suppose Nancy views wine (W) and cheese (C) as perfect complements. Nancy likes to have exactly 2 glasses of wine with each block of cheese she consumes. Cheese is the X axis good. The price of a bottle of wine is $15 and the price of a block of cheese is $5 and Nancy has $175 for her party budget. a) (2 marks) Carefully sketch and label Nancy's budget line on your hard copy paper. Write the budget line equation in the myls answer box. b) (4 marks) Find Nancy's optimal bundle of wine and cheese and enter your numerical answer in the myls answer box. Show your work on your paper and illustrate the optimal bundle and a representative indifference curve in your graph. c) (4 marks) Suppose the price of cheese falls, briefly describe in words in the myls answer box what happens to Nancy's demand for cheese (you do not need to solve numerically). Show what is going on in your graph. If the quantity of cheese demanded changes how much of this change is due to the substitution effect and how much is due to the income effect? Explain your answer in the myls answer box