1. Today, I brought my two 5-year-old daughters, Elisa and Lily, to a store selling car toys (C) and princess toys (P). Elisa and Lily like both types of toys, but Elisa's preferences can be represented by the utility function UP(C, P) = C02p08, while Lily's preferences can be represented by the utility function U(C, P) = P + ;C2. Before entering the store, I gave each girl 20 that they can spend on any toy. Each toy in the store costs $1. (a) Roughly sketch Lily's and Elisa's indifference curves for utility levels 1 and 2 on a graph with cars on the horizontal axis and princess toys on the vertical axis. (8 points) (b) Compute the MRSo,p. What does it indicate for the girls' preferences over mixtures of car and princess toys? (8 points) (c) Write down each girl's utility maximization problem. (4 points) (d) How many car and princess toys will each little girl buy in the store? (15 points)