Question: QUESTION 1: 4D POINTS TOTAL Alison consumes only.f wine {2:} measured in bottles and cheese [ 3:} measured in ounces. Her preferences are given by


QUESTION 1: 4D POINTS TOTAL Alison consumes only.f wine {2:} measured in bottles and cheese [ 3:} measured in ounces. Her preferences are given by U = mif3y2f3l and her production capabilities. are described by the following constraint: Q = (mot we 300. Based on that information, answer each of the following questions: A. Assuming no opportunities for trade, flnd Alison's Ii) utility- maximizing consumption and production choices and {ii} her resulting utility. [15 points] B. Now, assuming Alison expects an opportunityr for trade with pm = pg = 10 nd her {i} utility-maximizing production and consumption choices and [if] her resulting utility. [20 points] C. Keeping the price of cheese xed at pg = 10 , what is the threshold price ofwine {13}.above which Alison would be a net supplier of wine? [5 points]
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