Chuck’s utility function on the number of cookies he eats, denoted by c, and the number of glasses of milk he drinks, denoted by m, is given by: U(c, m)=min{c,3m}. What is the point that is most to the south-west in Chuck’s indifference curve that passes through (2,8)?a. (2,2/3).b. (8,8).c. (5,5).d. (2,2).e. (2/3,8).
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