Question: I have provided the answer below. You wake up on the planet Flatz after being abducted for economic research. The Flatzies give you following resources

I have provided the answer below.

I have provided the answer below. You wake up on the planet

You wake up on the planet Flatz after being abducted for economic research. The Flatzies give you following resources to survive - 10,000 Flats. Flats are universally accepted on Flatz for acquiring goods and services. The saddening thing with Flats is that 25% of your Flats vanish at sunrise. a) Construct graphs of your consumption opportunity set (decision line/budget constraint) for Day 1 to Day 2, and Day 2 to Day 3. b) If you are offered a return ticket to Earth on Day 3 at a cost of 2500 Flats, what is the maximum amount of Flats you can spend on Day 1 to leave you with enough Flats to purchase the ticket to return home on Day 3? Show your calculations and construct the graphs showing your consumption allowing you to return home

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