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Please answer sub-part d) of the question. Pele enjoys coffee (C) and tea (T) according to the function U(CT) = 6C+87 (a) What does ber
Please answer sub-part d) of the question. Pele enjoys coffee (C) and tea (T) according to the function U(CT) = 6C+87 (a) What does ber utility functions about to MRS of coffee and tea? (b) Suppose the price of coffee (PC) and the price of ten (PT) are both $3.1 Alans has 812 to spend on these products, 1. How much collec and ten should she buy to maximize her utility? ii. Draw a carefully labeled stopli of her indifference curve map and her budget constraint. Put the quantities of coffee on the horizontal axis. Be sure to identify the utility maximizing point (c) Would Alana bay more coffee if she had more income? Explain. (d) Suppose the price of coffee fell to $2 How would be consumption change
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