Multiple Choice
Charlie has a utility function U(xA, xB) =xAxB, the price of apples is $1, and the price of bananas is $2.If Charlie's income were $120, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
A) 30
B) 15
C) 60
D) 6
E) 90
Correct Answer:
Verified
Correct Answer:
Verified
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