Initially a consumer with money income of $100 chooses between goods x and y (there are...

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Initially a consumer with money income of $100 chooses between goods x and y (there are no other goods) which have prices px and py both equal to $2.00. The person is buying 30 units of x and 20 units of y. Part a. Graph the initial equilibrium. Turn in the picture of your graph in the last step (after you add to it). Q3.1 Part b 1 Point Now suppose that prices change so that px = $3.00 and py = $0.50. What is the cost of the original bundle at the new set of prices? *Note: Make sure to include the $ in your answer (i.e. $12). Round to the nearest whole number. Is the original bundle affordable? Q3.2 Part c 3 Points Fully explain the consumer's final equilibrium position under the new set of prices and show it on your graph. Upload your graph here. Please select file(s) Select file(s) Save Answer Initially a consumer with money income of $100 chooses between goods x and y (there are no other goods) which have prices px and py both equal to $2.00. The person is buying 30 units of x and 20 units of y. Part a. Graph the initial equilibrium. Turn in the picture of your graph in the last step (after you add to it). Q3.1 Part b 1 Point Now suppose that prices change so that px = $3.00 and py = $0.50. What is the cost of the original bundle at the new set of prices? *Note: Make sure to include the $ in your answer (i.e. $12). Round to the nearest whole number. Is the original bundle affordable? Q3.2 Part c 3 Points Fully explain the consumer's final equilibrium position under the new set of prices and show it on your graph. Upload your graph here. Please select file(s) Select file(s) Save Answer