Y7

Consider that there are two goods, good X and good Y, which are perfect substitutes. The consumer has the utility function given by: U (X, Y) = X + LlY The prices of the goods are given by p), = 3 and 17,, = 6, respectively. The income ofthe consumer is given by I = 100. :1) Choose a Value for parameter \"a\" by yourself. Graphically illustrate the budget line ofthe consumer and draw some example indifference curves. Then, nd the consumption bundle that maximizes the consumer's utility. u u b) List the possible outcomes for different values ofpararneter r1