Multiple Choice
Jane's utility function is U(x,y) = 2xy. She has 2 units of good x and 4 units of good y. Tim's utility function is U(x,y) = 5x + 2y. He has 4 units of good x and 1 unit of good y. We can conclude that:
A) each prefers their own bundle to the other's bundle.
B) Jane prefers Tim's bundle to her own, but Tim prefers his own bundle to Jane's.
C) each prefers the other's bundle to their own.
D) Tim prefers Jane's bundle to his own, but Jane prefers her own bundle to Tim's.
Correct Answer:
Verified
Correct Answer:
Verified
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