. A consumer buys only two goods, 𝑋𝑋 and 𝑌𝑌, with prices of 𝑝𝑝𝑋&

[answerhappygod]

. A consumer buys only two goods, 𝑋𝑋 and 𝑌𝑌, with prices of
𝑝𝑝𝑋𝑋and 𝑝𝑝𝑌𝑌 and has an income of 𝑚𝑚. Use diagrams to indicate
consumer preferences, including details of the marginal rate of
substitution, in the cases where: (a) 𝑋𝑋 is a Sierra Blue iPhone 13
Pro and 𝑌𝑌 is a Graphite iPhone 13 Pro. Assume that the consumer is
indifferent between the two colours. (b) 𝑋𝑋 is a right foot Nike
Air Max Vapormax trainer and 𝑌𝑌 is a left foot Nike Air Max
Vapormax trainer. (c) 𝑋𝑋 is an iPad Pro and 𝑌𝑌 is a Balenciaga
jacket. (d) Suppose that the consumer wins a substantial sum of
money in the UK’s National Lottery, how will this affect her
consumption choices in each of the cases above? Illustrate the
effects on your diagrams. (e) Suppose that due to supply change
shortages, the price of 𝑋𝑋 increases, how will this affect the
consumer’s choices in each of the cases above? Illustrate the
effects on your diagrams.