Especially d)

1. J I I (24 points) Barbara has $12 to spend on breakfast and must choose how many pancakes and glasses of orange juice to order. The price of pancakes (PC) is $2.00 and the price of orange juice (PJ) is $1.00. The table below shows utility Barbara receives from pancakes and orange mice. Pancakes Orane Juice \"\"' PC P ___EE-__ [___-__ ___-_ ___E-E- ___-_ ___-_ ___-[_ . Complete the table above. a b. What is Barbara's optimal combination of pancakes and orange juice. Explain your answer. c. Suppose the price of orange juice is raised to $1.05. What is Barbara's optimum combination of pancakes and orange juice now? d. Briey explain how we can use this utility maximization problem to nd Barbara's demand curve for orange juice