I am always willing to exchange one Coke (C) for two Pepsis (P), no matter how many Cokes I have consumed. What utility function represents my preferences? [If you think there are multiple correct answers, you can choose either one.] O a. U(C, P) = min{2C, P} O b. U(C, P) = P + 2C O c. U(C, P) = 2C + P O d. U(C, P) = C/3 p2/3

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Can you help me with this please, Thank you!

Suppose the consumer's utility function is given by U(x,y) = X3/5y2/5, and the exogenous variables are given by M = 500, Px = 5, and Py = 4. Price of y changes to Py = 2. What is the income effect ony?O A.-14.53O B. +14.53O C. +24.21O D. +25.79O E. None of the above  Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.