Question: 4)Suppose Sara does not like to consume apple pie by itself or vanilla ice cream by itself. However she loves to consume 2 slices of

4)Suppose Sara does not like to consume apple pie by itself or vanilla ice cream by itself. However she loves to consume 2 slices of apple pie with 3 scoops of vanilla icecream. (use apple pie on X axis and bread on Y axis).

a)Devise a utility function to represent these preferences.

b)Suppose a slice of apple pie costs $2 and scoop vanilla ice cream costs $1. If she has $35 budget to spend on these goods. Write the budget constraint.

c)Solve Sara's utility maximization problem and find out optimal combination?

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5. How quickly can we manage to collect the information?

3. Tactical/strategic information.