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The questions are shown in the picture 4. (6 marks) John's utility function between coffee ( C ) and tea ( T ) is specified

The questions are shown in the picture

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4. (6 marks) John's utility function between coffee ( C ) and tea ( T ) is specified as: U = LC + L + 2C where C and Tare both measured in kilograms. The price of a pound of coffee is $5, and the price of a pound of tea is $2. His daily income is $51. a. Determine John's daily utility-maximizing combination of coffee and tea. What is the maximum amount of utility he can achieve? b. Now suppose he price of coffee rises to $6. Determine the new utility-maximizing combination of coffee and tea for John. What is the maximum amount of utility he can now achieve

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