Multiple Choice
Leo's utility function is min{x, 3y + 2z}. The price of x is $1, the price of y is $9, and the price of z is $8. Leo's income is $8. How many units of x does Leo demand?
A) 2
B) 1.60
C) 5
D) 7
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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