Practice problem 1 Chapter 5 Assume that a buyer decides to allocate $34 to buying notebooks and pens. The price of a pen is $2 and the price of a notebook is $4. A) Make a table with all possible quantities of the two goods that this consumer can buy given income and prices. B) Draw the budget line and write the budget constraint and the budget set equations. Calculate the slope of the budget line. C) What is the opportunity cost of pen? What is the opportunity cost of a pencil? D) From the information provided in the following table, determine the optimal bundle that the consumer with an income of $34 must choose to maximize his well-being Quantity Pen(s) ($2/unit) Notebook(s) ($4/unit) Total Benefits ($) Total Benefits (S) 0 0 0 10 19 N - 18 38 25 52 31 60 36 66 DO VaVIA 40 70 43 72 44 73