Question: 2. Suppose a consumer considers coffee (C) and tea (T) to be perfect substitutes. He requires 2 cups of tea to be willing to give


2. Suppose a consumer considers coffee (C) and tea (T) to be perfect substitutes. He requires 2 cups of tea to be willing to give up one cup of coffee. This consumer's budget constraint can be written as 3C + T = 15. His utility function is and his optimal bundle is U=2T+C; 15 cups of tea and no coffee U=2T+C; 5 cups of coffee and no tea U=T+2C; 15 cups of tea and no coffee U=T+2C; 5 cups of coffee and no tea P'PP
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