1. Taco Tuesday a. You're back at a taqueria with $24 in your pocket. Tacos cost $3, but it's Taco Tuesday and the taqueria has a special buy-two-get-one-free offer going on. In other words, for every two tacos you buy, you have the option of a free third taco (though you can decline it if you want). Draw your feasible set in terms of tacos and leftover cash. Tacos should be on the x (horizontal) axis and cash on the y (vertical) axis. b. Draw your own preferred choice on the feasible set. c. Draw two additional points on the graph that are equally appealing to you as your preferred choice. Connect them to your preferred choice to form an indifference curve. d. Describe in words what your indifference curve represents. e. You return the following Tuesday and the taqueria has hiked up the price of tacos to $4. Draw your new feasible set. f. Repeat (b) and (c) for your new feasible set – this should give you a new indifference curve. g. Describe in words how the change in prices affected your available choices and your best choice, making reference to your diagram. You may want to label some points on the diagram to make things clearer.