Tom enjoys both yogurt (y) and xiaolongbao (x). However, the grocery near his house keeps changing prices, as does his daily grocery budget. Suppose Tom consumes the following bundles on different days when the prices are as follows:

(26 points) Tom enjoys both yogurt (y) and xiaolongbao (it). However, the grocery near his house keeps changing prices, as does his daily grocery budget. Suppose Tom consumes the following bundles on different days when the prices are as follows: Day pm pg 1? y Day15232 Day21223 Day34252 Day4266l (a) Similar to the lecture slides, ll in the table below with the necessary budget for each bundle. In the table created, circle the bundles that were affordable on any given day. 3 points 2:=3,y= ($5,$2) $19 (b) Graph all 4 bundles and 4 budget lines on a graph. Label the axes and all 3 inter- cepts. lo 4 points Yogurt {Y} [l '_ 2' 3 4 :3 6 I" 8 '3 1-D Xiaolongbao {X} (c) Are there any bundles that are directly revealed preferred to other bundles? If so, list out all directly revealed preferred bundles, and explain the general intuition for how the table in question A helps you determine directly revealed preferred bundles. 2 points (d) Does Tom's choice behavior satisfy the Weak Axiom of Revealed Preference? If not, list all revealed preference relations that violate it. How many pairs are inconsistent (violations of WARP) ? 3 points (e) Are there any bundles that are indirectly revealed preferred to other bundles? If so, list them all out, and explain the general intuition. 2 points (f) Does Tom's choice behavior satisfy the Strong Axiom of Revealed Preference? If not, list all revealed preference relations that violate it. How many pairs are inconsistent with SARP but are not violations of WARP (that is, you do not need to relist violations of WARP from part (I)? 3 points (g) Can we create a utility function that describes Tom's preferences? If so, please do so. If not, why not? (h) It then became clear that Days 1 and 3 were sunny and Days 2 and 4 were rainy, and that Tom's preferences were weather-dependent. On sunny days, does Torn prefer grocery budget and prices on Day 1 or those on Day 2? Or, you don't have sufcient information to answer the question? 3 points (i) On rainy days, does Tom prefer grocery budget and prices on Day 3 or those on Day 4? Or, you don't have sufcient information to answer the question? 3 points