5. (9N4.5) [Hint: Since this problem involves fixed proportions utility you can't use calculus to find optimal quantities. Mr. Claus gains utility from the consumption of milk and cookies. He is very peculiar about his eating habits, however, always requiring 2 cookies (C) for each glass of milk (M). Thus his utility function can be written: U = min C M Unfortunately since the formation of the elf union Santa's food budget is rather limited. He has only I dollars to spend on cookies which cost Pc each and milk which costs Pm per glass. A. Graph a typical indifference curve Mr. Claus. Show that regardless of the relative prices of the two ingredients Mr. Claus will never alter the ratio of cookies to milk he consumes. B. Given Prices and his constraint find Mr. Claus' optimal consumption of milk and cookies. Depict his choice on an indifference curve graph. C. Find an indirect utility function for Mr. Claus. How much utility does Mr. Claus get if he consumes optimally at the above prices? D. Calculate Mr. Claus' expenditure function