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1)You've got just enough money so that you can either buy 4 cups of coffee and 6 hot chocolates, or 12 coffees and 2 hot chocolates

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1)You've got just enough money so that you can either buy 4 cups of coffee and 6 hot chocolates, or 12 coffees and 2 hot chocolates.
(a) Write these two budget constraints.
(b) What is the ratio of the price of coffee to hot chocolate?
(c) If you spent all your money on coffee, how much could you buy?
(d) If you spent all your money on hot chocolate, how much could you buy?
(e) Using coffee as the numeraire, solve for the income and price of hot chocolate.
2)Oscar the Grouch who lives in a garbage can on Sesame Street likes garbage. He consumes only two commodities—garbage and Taylor Swift CDs. Contrary to popular belief, however, Oscar doesn't actually each the garbage. He simply uses it to feed his pets, including Slimey the worm and Fluffy the Elephant. Instead, Oscar actually eats Taylor Swift CDs. People pay Oscar $4 per bag to take their garbage, while Oscar pays $12 for a pack of unused Taylor Swift CDs. Oscar has no other job because he stinks, doesn't receive welfare because his trash can is too dirty, and is estranged from his parents.
(a) If Oscar takes in no garbage, how many Taylor Swift CDs can he buy?
(b) If Oscar takes in 15 bags of garbage, how many Taylor Swift CDs can he buy?
(c) Write down an equation for Oscar's budget constraint.
(d) Sketch Oscar's budget line, and lightly shade in his budget set.
(e) What term would you use to describe the relationship between garbage and Taylor Swift CDs for Oscar?
3)You've got both accounts and economics exams coming up really soon. You can either spend your time reading (40) pages of economic notes and (30) pages of accounts notes. Or, you can spend your time reading (30) pages of economics notes and (60) pages of accounts notes.
(a) First assume that how many pages you can read per hour doesn't depend on how your time is allocated. How many accounts pages can you read if you spend all your time on accounts?
(b) How many pages of economics can you read if you spend all your time on economics?
4)Suppose the Government decides to provide 30 free bus passes for an individual making $1,000 a month. Roughly draw the budget constraint for this individual where the other commodity is "Everything else".