Question: Text Question 4.22 Question Help 15- 14- The concentration of the active ingredient, sodium hypochlorite, in Clorox is twice that of the generic brand. Consequently, Chris views one cup of Clorox to be a perfect substitute for two cups of the generic. If Clorox costs $6.00 per gallon, the generic costs $2.00, and Chris allocates Y = $24.00 per year, what bundle does Chris buy? If the price of Clorox falls to $4.00, how does Chris’s behavior change? – Free Chegg Question Answer

Transcribed text From Image: Text Question 4.22 Question Help 15- 14- The concentration of the active ingredient, sodium hypochlorite, in Clorox is twice that of the generic brand. Consequently, Chris views one cup of Clorox to be a perfect substitute for two cups of the generic. If Clorox costs $6.00 per gallon, the generic costs $2.00, and Chris allocates Y = $24.00 per year, what bundle does Chris buy? If the price of Clorox falls to $4.00, how does Chris's behavior change? Q 13- 12- 11. 10- 9- Assume instead that the generic bleach increases its strength to equal that of Clorox without changing its price. What bundles will Chris buy if the price of Clorox is $6.00 and if the price of Clorox is $4.00? 8 Clorox bleach, gallons per year 7 Assume for simplicity that one gallon of generic bleach corresponds to one unit of utility for Chris. 1.) Using the line drawing tool, draw the indifference curve for Chris that corresponds to 10 units of utility. Label the curve '110: 3- 2- 1- 0- 0 2.) Using the line drawing tool, draw the indifference curve for Chris that corresponds to 12 units of utility. Label the line '112: 3.) Using the line drawing tool, draw the indifference curve for Chris that corresponds to 14 units of utility. Label the curve ' 14: 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Generic bleach, gallons per year 4.) Using the line drawing tool, draw Chris's initial budget line. Label the line 'L':
5.) Using the point drawing tool, plot the bundle Chris chooses when the price of Clorox is $6.00 per gallon. Label the point 'e.' 6.) Using the line drawing tool, draw Chris's new budget line. Label the line 'L?: 7.) Using the point drawing tool, plot the bundle Chris chooses when the price of Clorox is $4.00 per gallon. Label the point 'ez' Carefully follow the instructions above, and only draw the required objects.