3. Assume Matt's utility function is given by u(21, x2) = (min (x1,22}) . The prices of goods 1 and 2 are pi and p2, respectively, and his income is m. (a) What kind of preference does this utility function represents? (b) Find the optimal levels of consumption for goods 1 and 2. 4. Assume Megan has preferences represented by utility function U (x1, x2) = (x1)1/4 (x2 )3/4. Good 1 is electricity (1) while good 2 is gasoline (@2). Suppose the consumer has an income level of m = 1000 dollars. In addition, the price of good 1 is p1 = 5 and the price of good 2 is p2 = 5. (a) Compute the Marginal Rate of Substitution (MRS). (b) Find the optimal levels of electricity (@1) and gasoline (@5) consumption for Megan. (c) Suppose the government imposes a per-unit tax of t = 5 dollars on gasoline. Find the optimal levels of electricity (x]) and gasoline (@?) consumption for Megan with the tax