Please show work and steps 4. Melissa\'s utility function is U min (L, E 2, 2T)
ID: 1177001 • Letter: P
Question
Please show work and steps
4. Melissa's utility function is U min (L, E 2, 2T) where Lare lattes, E are eggs, and Tis toast. She is on a diet, and her calorie constraint for breakfast is Cbar J600 calories. Supposelattes have 300 calories, eggs have 100 calories, and toast also has 100 calories per serving. a. What type of utility function is this? Are these good complements, substitutes, or perfect substitutes? b. If she has to eat only whole servings, what will she have for breakfast, andhow many calories will she consume? If she can eat partial servings, how would your answer differ?Explanation / Answer
a) ordinal utility function. these are perfect substitutes b)calories consume = 50 calories as this is minimum by function.( min(300,50,200) if she eat partial then she take letties as it give max calories