Multiple Choice
Martha's utility function is U(x, y) = min{x + 2y, 2x + y}.George's utility function is U(x, y) =min{2x + 4y, 4x + 2y}.If George and Martha have the same income and face the same prices for the goods x and y,
A) George and Martha will both demand the same amount of y.
B) Martha will always prefer George's consumption bundle to her own.
C) George will always prefer Martha's consumption bundle to his own.
D) George will demand more x than Martha demands.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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