A2 You like to consume coffee and sugar, C and S , respectively, in an a: b ratio, i.e., you always want to have � �. Express your utility function as a function of C and S, U(C, S). If you are given prices Pc and Ps (in £/unit) for coffee and sugar, respectively, along with your income, m (in f), then what is your optimal consumption bundle, (C', S'), and maximised level of utility, U(C', S')? = = consumer has the utility function U(X, Y) = X1/4y3/4 and faces prices px = py = 1 (in…
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