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Question 1 (3.5 points) Ming spends her entire weekly budget M > 0 on candy bars (x) and comic books ()). If she spends all

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Question 1 (3.5 points) Ming spends her entire weekly budget M > 0 on candy bars (x) and comic books ()). If she spends all of M, she can buy: . 4 candy bars and 4 comic books . 5 candy bars and 2 comic books Note: We assume that both candy bars and comic books are infinitely divisible. Wherever rounding is needed, please round to 3 decimal points. (a) (0.5 point) Let px denote the price of a candy bar (x) and py denote the price of comic books ()). Using the above information, we can determine that Px/Py = (b) (0.5 point) If Ming spends entire income M on buying comic books ()), what is the maximum number of comic books she could buy? V= (c) (0.5 point) If Ming spends entire income M on buying candy bars (x), what is the maximum number of candy bars she could buy? X = (d) (1 point) Ming's preferences over candy bars (x) and comic books ()) is given by the utility function U = max (x, y} = X, X

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