Question: Question 3: The hypothesis that he needs a Gucci shirt to go with every coat and that Gucci shirt can ONLY be used with that

Question 3: The hypothesis that he needs a Gucci shirt to go with every coat and that Gucci shirt can ONLY be used with that coat seems unrealistic. Afterall, Macklemore states that he doesn't really care about how he dresses. Let's say now he sees Gucci t-shirts and Leopard mink coats as perfect substitutes, that is, he is perfectly happy to substitute one coat for TWO t-shirts. 3. (a) Derive a expression for Macklemore's utility function.4 (b) With 3:2 on the vertical axis, draw Macklemore's indierence curve for differen levels of utility. (c) What is Macklemore's marginal utility from 1:1? Does it depend on how much 2:1 he already has? (d) Find an expression for marginal rate of substitution between 3:1 and 3:2, denoted M R31 ,2? Does it depend on how much 3:1 he already has? Question 1: Let's start with his budget set. Macklemore is interested in two goods, Gucci tshirts (:31), which cost $50 (p1), and Leopard mink coats ($2), which cost $5 (192). His income is US$ 20

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