Question: Mitch cares only about how much he can write. Because a pen will write 7 miles of text and a pencil will write 35 miles

Mitch cares only about how much he can write. Because a pen will write 7 miles of text and a pencil will write 35 miles of text, Mitch considers them perfect 5-to-1 substitutes. If the price of pens is given by P pen and the price of pencils is given by P pencil , and if Mitch’s income is given by Y, use indifference curve analysis to derive the demand curve for pencils.

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