Business, 05.10.2019 03:20, krystinayagel013

Every morning, leslie drinks coffee (c) or tea (t) with her waffles. for leslie, 1 cup ofcoffee and 1 cup of tea are that same thing, and thus her preferences can be represented byu(c, t) =c+t. a cup of coffee costs $3, and a cup of tea costs $2; leslie has $5. forthe sake of consistency, let coffee be our x-axis good (i. e., good 1), and let tea be our y-axisgood (i. e., good ) what is leslie’s best feasible bundle? (b) graphically depict the best feasible bundle (make sure to label your axes, include a b. c.,and an indifference curve() holding constant leslie’s income and the price of tea, what will be the new optimalbundle if coffee is now half off (per ) explain how the optimal consumption bundle will change if the price of coffee is thesame as the price of tea?

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Every morning, leslie drinks coffee (c) or tea (t) with her waffles. for leslie, 1 cup ofcoffee and...