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1) Chapter 4, problem #12) Chapter 4, problem #103) Chapter

1) Chapter 4, problem #12) Chapter 4, problem #103) Chapter 4, problem #144) Chapter 4, problem #245) Barney has $1,000 per week that he can spend on Tim Gunn custom suits (S) or beer atMcClaren’s pub (B). Each suit costs Barney $250, and each beer is $10. a. Write an equation for Barney’s budget constraint and draw it on a graph that has suitson the horizontal axis. Be sure to show both intercepts and the slope of the budgetconstraint. b. Assuming he spends the entire $1000, how many beers does Barney purchase if hechooses to purchase 1 suit a week?c. Suppose that McClaren’s runs a special and the price of a beer drops from $10 to $5.Draw Barney’s new budget constraint (indicating intercepts and slope). What is theequation for Barney’s new budget constraint?d. Draw a fresh graph with the original budget constraint. Now suppose that GNB doublesBarney’s salary. On this new graph, draw Barney’s new budget constraint (indicatingintercepts and slopes). What is the equation for this new budget constraint?e. Again, draw a fresh graph with the original budget constraint. Suppose now that TimGunn gets a big promotion from Bravo and raises the cost of suits to $500. On this newgraph, draw Barney’s new budget constraint (indicating intercepts and slopes). What isthe equation for this new budget constraint?Not; see the questions in the Attachment I post it is same

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