Multiple Choice
Joseph's utility function is given by xA + 2xB, where xA denotes his consumption of apples and xB his consumption of bananas. Suppose apples and bananas have the same price, 50 cents. If his income is $10, then Joseph will consume:
A) no apples.
B) twice as many bananas than apples.
C) twice as many apples than bananas.
D) same quantity of apples and bananas.
Correct Answer:
Verified
Correct Answer:
Verified
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