To view high definition shows on your 4K TV screen, you need a high definition cable box. For each TV you have to have a separate cable box. Assume you have$5,000 to outfit your home with high definition cable television. The current price of a high definition television is$1,000. A cable box costs$250. Use this information to answer the following questions. You may write your answers by hand on this paper and submit photos of the pages (just make sure images are readable and not HEIC). Alternatively, you may submit a Google Doc or Microsoft Word document. Please complete this assignment individually.

3) Draw the budget line on the graph and label it. What is the optimal consumption point? In other words, write below how many cable boxes and HD televisions you would want to purchase.

6) Draw the new budget line if high definition televisions go on sale for$375 per television. Label the new budget line. In the space below, write how many cable boxes and HD televisions you would want to consume if televisions were$375, high definition boxes were$250, and your income was$5,000?

10) Mass production has made the price of a high definition television fall even further. The price of a high definition television is now$250. The cost of a cable box is still$250. Draw the new budget line. Label the new budget line. In the space below, write how many cable boxes and HD televisions would you want to consume if televisions were$250, high definition cable boxes were$250, and your income was$5,000?