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HW1.1 #8. Peter also likes coffee (x) with sugar (y), but his utility function is U(x,...

HW1.1 #8. Peter also likes coffee (x) with sugar (y), but his utility function is U(x, y) = 5x + 4y. Peter has purchased 4 ounces of coffee and 5 grams of sugar.

Recall Peter of problem #8 of homework 1.1. His utility function is u(x, y) = 5x + 2y where x is the number of ounces of coffee and y is the quantity of sugar in grams. Let unit prices be given by Px = 6 cents, Py = 2 cents, and assume that Peter has $9 to spend on coffee and sugar. Find Peter’s best choice, in terms of quantities of coffee and sugar. Illustrate it graphically.

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孑っ足ant , 우 9 zl the Cuine occun at paint

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