Question $1(0\mathrm{.}5$ point$)$: Please draw a budget line as in the first of our two lectures this week. Explain why we label the endpoints of the budget line the way I did in the lecture.

Question $2(0\mathrm{.}5$ point$)$: What is the slope of the budget line? Hint: It involves the prices of goods X and Y$.($Note: this will be important as we move forward$).$

Question $3(2$ points$)$: Please draw a budget line as in Question $1.$ Then, on the same graph, show what happens to the budget line if the price of Good X decreases $($i$.$e$.,$ if Px decreases$).$

Question $4$: $(2$ points$)$: Please draw a budget line as in Question $1.$ Then, on the same graph, show what happens to the budget line if the consumer$$s Income increases $($i$.$e$.,$ if M increases$).$