A person in an economy in which they only consumetwo commodities, coffee and cake. This person always consumes thesecommodities together in a fixed ratio; whenever they drink a cup of coffee, they eat a single cake.This person has a budget of £99 to spend on coffee and cake.a. Draw a single diagram showing the relevant indifference curves and budgetlines for this person to show their optimal consumption bundle for the threedifferent examples of prices for coffee and cake listed below. Put thequantity of coffee on the horizontal axis of your diagram. Fully label yourdiagram, identifying the quantities of coffee and cake for the three optimalconsumption bundles. i. Price of coffee is £2 and the price of a cake is £1 ii. Price of coffee is £8 and the price of a cake is £1 iii. Price of coffee is £10 and the price of a cake is £1

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