Q1. Louis has $50 to decide on consuming Coffee (C, with price PC) and Tea (T, with price By). He has utility function u(C, T) = 12C (3'2 + T. a. Bonus 1. Bonus 2. Holding Louis1 income I = $50, PT = $1 but PC = P as a variable, what is Louis\" Demand Function on Coffee (use Of as Louis\" Quan- tity Demanded on Coffee)? Hint: You may not need to use the Budget Constraint here. . There is another person, George, also a Coffee lover. George has his (inverse) Demand on Coffee as: P = 6305 . Assume there are only Louis and George in the market of Coffee, what is the Total Market Demand of Coffee (denoted by Chef)? . Plot Louis\