1. 3. Candice's preferences over KitKats (K) and yogurt (Y) are represented by the utility function U(K, Y) 2 K + 4Y1/2. If the price of a KitKat is $5 and the price of a yogurt is $10, what is her optimal consumption bundle assuming she has $300 to spend. Graphically represent her utility maximizing bundle. Candice's preferences over KitKat (K) and yogurt (Y) are represented by the utility function U(K, Y) = K + 2Y2. If the price of a KitKat is $5 and the price of a yogurt is $10, what is her optimal consumption bundle assuming she has $300 to spend. Graphically represent her utility maximizing bundle. Identify if each of the following statements is true or false. a. With perfect substitute preferences, the consumer will always choose a corner solution. b. If preferences are rational and monotonic and ICs are convex, the consumer will never choose a corner solution. With Cobb-Douglas preferences, the consumer will never choose a corner solution. (1. With perfect complement preferences, the consumer will never choose a corner solution. e. If preferences are rational and monotonic and ICs are concave, the consumer will always choose a corner solution. .0