Multiple Choice
Carl has the utility function U(x,y) = x2 + y. The price of x is 1 and the price of y is 1. Carl's income is $10. When Carl's income increases by $10, his consumption of x will be:
A) 1/2.
B) 2.
C) 1.
D) 4.
Correct Answer:
Verified
Correct Answer:
Verified
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