help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working Hot Dogs2. Hand draw a utility function like the one below. Draw a point where both hot dogs and hamburgers are economic bads and label it as point "W".Draw a point where both hot dogs and hamburgers are economic goods. Label it as point "X". Draw a point where hamburgers are an economicbad, but hot dogs are an economic good, labeling it as point "Y". Draw a point where hot dogs are an economic bad, but hamburgers are aneconomic good, labeling it as point "Z". Finally, label the bliss point a point "B".Hamburgers

Question

help  please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working Hot Dogs2. Hand draw a utility function like the one below. Draw a point where both hot dogs and hamburgers are economic bads and label it as point &#34;W&#34;.Draw a point where both hot dogs and hamburgers are economic goods. Label it as point &#34;X&#34;. Draw a point where hamburgers are an economicbad, but hot dogs are an economic good, labeling it as point &#34;Y&#34;. Draw a point where hot dogs are an economic bad, but hamburgers are aneconomic good, labeling it as point &#34;Z&#34;. Finally, label the bliss point a point &#34;B&#34;.Hamburgers

Accepted Answer

The consumption of goods can only be satisfying up to a certain point. Sometimes too much of…