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able to read your hand writing. Each sub-question is with 5 points. Please submit your assignment on Canvas by December 14. 1. Limited Attention Taylor

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able to read your hand writing. Each sub-question is with 5 points. Please submit your assignment on Canvas by December 14. 1. Limited Attention Taylor has $50 to spend on grapes (G) and cookies (C). The price of grapes is $1 and the price of cookies is $2. Suppose their utility function is: u = 3ln(G) + In(C) (a) How much does Taylor spend on cookies and grapes? Now, suppose Taylor pays limited attention to the price of cookies. (b) How many cookies will Taylor purchase if she pays limited attention to the price? (Your answer will be a function of her limited attention.) (c) Suppose that Taylor only notices 75% of the price of cookies (i.e. ( = .25) How much will she spend on cookies and grapes

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