Mr Inflexible's Utility Function Is U(x 1 ,x 2 )= Min(x 1 ,x 2 )

The Answer of Mr Inflexible's Utility Function Is U(x 1 ,x 2 )= Min(x 1 ,x 2 )

Mr Inflexible's Utility Function Is U(x 1 ,x 2 )= Min(x 1 ,x 2 )

The Answer of Mr Inflexible's Utility Function Is U(x 1 ,x 2 )= Min(x 1 ,x 2 )

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Mr Inflexible's Utility Function Is U(x₁,x₂)= Min(x₁,x₂)

Question 77

Multiple Choice

Mr. Inflexible's utility function is U(x₁,x₂) = min(x₁,x₂) . The price of x₁is $1, the price of x₂is $2, and Mr. Inflexible's budget is $120. His utility maximizing consumption bundle is:

A) (20, 40) .
B) (20, 50) .
C) (40, 40) .
D) (60, 30) .

Mr Inflexible's Utility Function Is U(x1,x2)= Min(x1,x2)

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Mr Inflexible's Utility Function Is U(x₁,x₂)= Min(x₁,x₂)

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