Benedict loves to buy graphite dirigible figurines which cost $2 each. He also likes to have money to spend on other things. We can write his utility function as: U(C,D) = 96*C1/3+ D where C is the number of figurines he buys and D is the number of dollars he has to spend on other things. (Each dollar has a price of $1) Benedict has $100.

(i) Plot his budget constraint

(ii) How many dirigibles does he buy?

(iii) Add his indifference curve to the graph at his utility maximizing bundle

(iv) If the price rises to $8 per dirigible how many will he buy?

(v) Write down Benedict's demand for figurines as a function of the price.