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1. Suppose a consumer consumes only X when the price of X is $1 and the price of Y is $1. Moreover, the consumer consumes
1. Suppose a consumer consumes only X when the price of X is $1 and the price of Y is $1. Moreover, the consumer consumes only Y when the price of X is $2 and the price of Y is $1. a. Can you determine if the consumer's preferences are perfect complements, perfect substitutes, or Cobb-Douglas? Explain how you arrived at our answer. b. What is a possible utility function for this consumer? Explain how you arrived at your
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