This exercise requires you to draw a graph, highlight points on this graph and write comments on what you have drawn. There are two ways in which you can deliver this exercise: 1- you can draw the graph and write your comments digitally using some software (power point or word or whatever you want to use} and attach here a PDF file of your work before this assignment closes. 2- you can draw the graph and write your comments by hand on a piece of paper, make photos of your work and include the photo(s) in this exercise as attachments before this assignment closes. Julia runs a farm, "Collins GSA", in the Pioneer Valley. The farm produces food and delivers it to clients [families]. She needs to make a choice about how much free time she can have to herself ix] and how much output she wants in terms of food produced and delivered [y]. (a) draw a graph on one set of axes to represent the problem that Julia faces, and explain it in your own words. Make sure your graph is large and easy to interpret. Draw in the graph Julia's feasible set and feasibility frontier explaining how you would use them to understand Julia's opportunity cost in terms of free time (x) and food delivered to clients [y]. In your graph, does the opportunity cost of free time increase or decrease as she moves from the top to the bottom of her feasibility frontier? Why? Explain. (b) On the same graph, draw three indifference curves indicating Julia's preferences and showing the tradeoffs she faces when choosing between free time [x] and food delivered to clients [y]. Does the tradeoff increase or decrease as she moves from the top to the bottom of the indifference curve? Why? Explain (c) Explain how you find the point at which Julia maximizes her utility given her preferences and the outcomes she can attain. What condition must be satisfied in order for her to maximize her utility? [Make sure you provide the economic intuition, not just the math.) Compare the utilitymaximizing point to two other points, in order to show why the utilitymaximizing point is better