3. Walt consumes strawberries and cream but only in the xed ratio of three boxes of strawberries to two cartons of cream. At any other ratio, the excess goods are totally useless to him. The cost of a box of strawberries is $10 and the cost of a carton of cream is $10. Walt's income is $200. a. Walt demands 10 cartons of cream. b. Walt demands 10 boxes of strawberries. c. Walt considers strawberries and cartons of cream to be perfect substitutes. d. Walt demands 12 boxes of strawberries. For m > p2, the demand functions for goods 1 and 2 are given by the equations, x1 = Iii/p2 * 1 and x2 = pllpz, where m is income and p1 and ,02 are prices. Let the horizontal axis represent the quantity of good 1. Leth = l and p2 = 2. Then for m > 2, the income offer curve is a. a vertical line. b. a horizontal line. c. a straight line with slope 2. d. a straight line with a slope of 1f2. Natalie consumes only apples and tomatoes. Her utility function is U(x, y) =x2y3, where x is the number of apples consumed and y is the number of tomatoes conusumed. Natalie's income is $320, and the prices of apples and tomatoes are $4 and $3, respectively. How many apples will she consume? a. 21.33 b. 16 c. 8 d. 48