3. Mazin's utility function is given by U-2C*P, where C represents the number of cans of cola and P represents the number of pizzas. Also, MUp - 2C and MUC 2P. Suppose that I - $120, Pp-4 and Pc - 2. Find the values of C and P that arise in consumer equilibrium. What is the total level of utility generated at this consumer equilibrium? ANSWER: 4. Assume a utility-maximization consumer with income I (and therefore a budget constraint of I=Pg G+Pk K) purchases pounds of G-oranges and pounds of K=grapes such that G-10K. Given this information, K*= ANSWER: PILJUM W LUULUI cans of cola and P represents the number of pizzas. Also, MUp = 2C and MUC = 2P. Suppose that I - $120, Pp = 4 and Pc = 2. Find the values of C and P that arise in consumer equilibrium. What is the total level of utility generated at this consumer equilibrium? ANSWER: 4. Assume a utility-maximization consumer with income I (and therefore a budget constraint of I - Pg G+ Pk K) purchases pounds of G-oranges and pounds of K=grapes such that G=10K. Given this information, K*= ANSWER: 5. Cake is on the horizontal axis and Pepsi is on the vertical axis in the consumer- choice diagram. Pc is the price of a slide of cake, Pp is the price of a can of Pepsi, and I is the consumer's income. Cake and Pepsi are the only two goods which income is spent. Prices are $1.50 for a slide of cake and $6.00 for a can of Pepsi. The slope of the budget line is ANSWER: W a