ou have two goods food and Shelter. When you have vertical axis for the number of food and horizonal axis for the number of shelters. Assume you have MRS = 3in this case.a)What does it mean by MRS of food (on the vertical axis) for shelter (on the horizontal axis) =3?b)if the price of food is 5, and if the shelter price is 10, then the consumer is not maximizing his utility. Sketch a budget line, assuming the consumer has $100 to spend, and draw in a possible indifference curve that illustrates the situation described here. Then, on the same graph, show with a simple sketch what could be done to correct the problem.
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