Your team is deploying a web application on AWS Elastic Beanstalk and you are responsible for selecting the instance type. The application has a steady traffic pattern and primarily serves static content, which requires minimal compute power. Initially, the application is configured to use t2.medium instances. However, after monitoring, you notice the instances are underutilized. Considering cost-optimization and application requirements, which instance type should you switch to?
m5.large
t2.2xlarge
t3.micro
c5.large