1. Paul's utility function is Cobb -Douglas. U = ? 0.2 208, where his income is Y, the price of B is p, , and the price of Z is p (15 pts.) a ) What is Paul's Engel curve for B and Engel curve for Z? What do es the shape of Engel curve say about B and Z? (5 pts.) b) What is Paul's income consumption curve when P, = 1 and p, = 1 ? Calculate and graph it on Paul's consumption diagram. What does the shape of income consumption curve say about B and Z? (5 pts.) c) What is Paul's demand for B when Y = 100, p, = 1? Calculate and graph it. How would this curve change if Paul's income increases? (5 pts.)