Can someone help me with question C

You should show detailed calculations/processes and explanations. Answer itself is NOT sufcient. 3. A consumer must divide $600 between the consumption of product X and product If The relevant market prices are Px = $10 and 3? $40. a. Write the equation for the consumer's budget line. 10X +40Y = 600 b. Illustrate the consumers opportunity set in a carely labeled diagram Goods Y Budget Line \\B lo 30 (ED 10X + 40Y = 600 When y = 0 then x =600l10 = 60 When x=0 then y = 600f40 = 15 Goods X 0. Show how the consumer's opportunity set changes when the price of goodX increases to $20. How does this change alter the market rate of substitution between goods X and Y? Good Y | 5 New budget line Budget line If P): increases to 20 When y = 0 then x =600l20 = 30 When x=0 then y = 600140 = 15 The new budget line will pivot The new budget constraint is 20X + 40Y = 600 First MRS = {UK/Bx: 10/40 = -0.25 Second MRS = 20/40 = -0.50 [increase] Before the price increase, the consumer hast to forego 4 units of X to consume 1 unit of Y. Now, to consume 1 unit of Y a consumer has _to_ forego 2 units ofX