Multiple Choice
Harold's utility function is U(x, y) = (x + 3) (y + 2) .The price of x is $1.The price of y is $2.At all incomes for which Harold consumes positive amounts of both goods, he will consume
A) more than twice as many units of x as of y.
B) more than twice as many units of y as of x.
C) 1 more unit of x than of y.
D) 1 more unit of y than of x.
E) 2/3 as many units of y as of x.
Correct Answer:
Verified
Correct Answer:
Verified
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