Multiple Choice
Ollie has a utility function U(x, y) = (x + 2) (y + 3) .The price of x is $1 and the price of y is $1.When he maximizes his utility subject to his budget constraint, he consumes positive amounts of both goods.Ollie consumes
A) exactly as many units of x as of y.
B) 1 more unit of x than he consumes of y.
C) 1 more unit of y than he consumes of x.
D) 2 more units of x than he consumes of y.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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