Multiple Choice
Justin consumes goods x and y and has a utility function U(x, y) = x2 + y. The price per unit of x is px and the price per unit of y is py. He has enough money so that he can afford at least 1 unit of either good. When he chooses his best affordable bundle,
A) his budget line must be tangent to the indifference curve passing through this bundle.
B) he must consume only x.
C) he must consume only y ifexceeds his income.
D) he must consume some of each good if px = py.
E) he must consume some of each good if.
Correct Answer:

Verified
Correct Answer:
Verified
Q26: At a boundary optimum, a consumer's indifference
Q54: Charlie has a utility function U(x<sub>A</sub>, x<sub>B</sub>)
Q55: Casper consumes cocoa and cheese. Cocoa is
Q56: Roger consumes no commodities other than Miller
Q57: Charlie has a utility function U(x, y)
Q58: Millie's utility function is U(x, y) =
Q59: Clara's utility function is U(x, y) =
Q60: Hans has $27 which he decides to
Q62: Elmer's utility function is U(x, y) =
Q63: Leo's utility function is min{x, 3y +