these r 2 parts of question 2

Maximum Marks: 05 a) What are the factors you consider to gure out the opportunity cost of a vacation to Gorakh Hill Station? (1 Marks) (Word count: 100 words max.) b) Efciency and equality are examples of classic trade-offs in economics. Analyze each of the following statements from the standpoints of efficiency and equality. i. \"Amid COVID-IQ, everyone in society should be guaranteed the best healthcare possible.\" (2 Marks) (Word count: 150 words max.) ii. \"When workers lose their jobs, they should be able to collect Ehsas income support benets until they nd a new job.\" (2 Marks) (Word count: 150 words max.) Mamum Marks: 06 a} Draw hypothetical consumer's indifference curves for Soft-drink and Pizza. Describe and explain four properties of these indifference curves. (2 Marks) (Word count: 250 words max.) b) A student living in a university hostel has two options for meals: eating at the dining hall for R5300 per meal, or eating a meal at Dhaaba for Rs.150 per meal. His weekly food budget is 113.6000. 1. Draw the budget constraint showing the trade-off between dininghall meals and meals at Dhaaba. Assuming that he spends equal amounts on both goods, draw an indifference curve showing the optimum choice. Label the optimum as point A. (1 Mark) ii. Suppose the price of a Dhaaba meal now rises to 125.200. Using your diagram from part (a), show the consequences of this change in price. Assume that our student now spends only 30 percent of his income on dining-hall meals. Label the new optimum as point B. (1 Mark) iii. What happened to the quantity of meals at Dhaaba consumed as a result of this price change? What does this result say about the income and substitution e'ects? Explain. (1 Mark) iv. Use points A and B to draw a demand curve for meals at Dhaaba. What is this type of good called? (1 Mark)