Question: 7. Mike has a utility function given by U = 10 a: min{2C,M} where C is cereal and M is milk. Cereal costs $4 per

7. Mike has a utility function given by U = 10 a: min{2C,M} where C is cereal and M is milk. Cereal costs $4 per unit and milk costs $6 per unit. If Mike has income of $800 then to maximise utility he will purchase

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