3. Suppose Mary enjoys Pepsi and Coke according to the function

U(P, C) = 4C + 5P. What does her utility function say about her MRS

of Coke for Pepsi? What do her indifference curves look like? What type

of goods are Pepsi and Coke for Mary? If Pepsi and Coke each cost $1 and

Mary has $20 to spend on these products, how many units of each product

should she buy in order to maximize her utility? Show this utility maximiz-

ing combination combination of Pepsi and Coke on the graph. how would

her consumption and utility maximizing bundle of Coke and Pepsi change

if the price of Coke decreases to 50 cents.