Assume that a consumer faces the budget constraints shown. 
a.Assuming that income is the same on both occasions, describe the difference in relative prices between panel a and panel
b.
b.If income in panel b is $320, what is the price of good X?
c.If income in panel a is $175, what is the price of good Y?
d.Give an example of prices that may produce the graphs in panel A and panel B (hint: what are the relative prices?)
Definitions:
Chronically Lonely
Experiencing long-term feelings of loneliness and isolation that affect one's health and well-being.
Cognitive Therapy
An insight therapy that uses specific strategies to correct habitual thinking errors that underlie various types of disorders.
Social Skills
The abilities necessary to interact effectively and harmoniously with others, including communication, empathy, and conflict resolution.
Emotional Loneliness
The feeling of being emotionally isolated or disconnected from others, regardless of the quantity of social relationships.
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