Question: Please make your answer clear to read. Thank you 5 Consider a consumer, John, who allocates a certain fraction of his income towards going to

Please make your answer clear to read. Thank you 5 Consider

Please make your answer clear to read. Thank you

$a consumer, John, who allocates a certain fraction of his income towards$

5 Consider a consumer, John, who allocates a certain fraction of his income towards going to sporting events. John spends all his money to sporting event on either football games or baseball games. His budget constraint is therefore: Y8 = PFF + P33 1 _ Note here that 3 denotes sporting event in general, and F denotes football game, B denotes baseball games. In this example: U(B, F) = 2(FB)6 Y' = 2000 PF = 80 P3 = 20 (a) Calculate the MRS and interpret (b) Caldculate the demand function for B and F 6. (a) Explain and Show graphically what are engel curves

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