Please show work and steps 4. Melissa\'s utility function is U min (L, E 2, 2T)
ID: 1177002 • 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) it is ordinal funtion because we can find the value of utility by putting the value.These are substitues not the perfect subatitute because you can have lattes in place of egg but if some one want to have lattes , then he will have lattes not egg.So we can not perfectly replace these things with each other
B) She can have a egg for breakfast for which its calorie consumed is 100.For partial serving she can have 2 eggs and 1 toast for which her calorie is 200 total