Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of c… Show more Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. 1. Find an equation that gives every bundle of cigarettes and coffee that Iggy could trade for. 2. Iggy has a MRS = -5 when he is holding his initial bundles (cigs, coffee)=(12,5). Given the rate of exchange, would Iggy trade cigarettes for coffee, or coffee for cigarettes? • Show less