Multiple Choice
what bundle would Linus choose if the price of x is $2, the price of y is $4, and his income is $24?
A) (0, 6)
B) (12, 0)
C) (12, 6)
D) (6, 3)
E) (6, 6)
Correct Answer:
Verified
Correct Answer:
Verified
Q21: Ambrose's utility is U(x<sub>1</sub>, x<sub>2</sub>)= = 4x<sup>1/2</sup><sub>1</sub>
Q22: Charlie's utility function is U(x<sub>A</sub>, x<sub>B</sub>)=x<sub>A</sub>x<sub>B</sub>.If Charlie's
Q23: Charlie's utility function is U(x<sub>A</sub>, x<sub>B</sub>)=x<sub>A</sub>x<sub>B</sub>.If Charlie's
Q24: Ambrose's utility function is = 4x<sup>1/2</sup><sub>1</sub> +
Q25: Ambrose's utility function is = 4x<sup>1/2</sup><sub>1</sub> +
Q26: Ambrose's utility is U(x<sub>1</sub>, x<sub>2</sub>)= =
Q27: Elmer's utility function is U(x, y)= min{x,
Q29: Ambrose's utility function is = 4x<sup>1/2</sup><sub>1</sub> +
Q30: Charlie has a utility function U(x<sub>A</sub>, x<sub>B</sub>)=x<sub>A</sub>x<sub>B</sub>,
Q31: Ambrose's utility is U(x<sub>1</sub>, x<sub>2</sub>)= = 4x<sup>1/2</sup><sub>1</sub>