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Suppose That U(x,y)=min(3x,y)U ( x , y ) = \min ( 3 x , y )

Question 68

Multiple Choice

Suppose that U(x,y) =min(3x,y) U ( x , y ) = \min ( 3 x , y ) . Further suppose that Px=$5P _ { x } = \$ 5 per unit and Py=$10P _ { y } = \$ 10 per unit and income is I=$105I = \$ 105 . For this consumer, the optimal basket to buy would be which of the following?


A) (x,y) =(9,3) ( x , y ) = ( 9,3 )
B) (x,y) =(3,1) ( x , y ) = ( 3,1 )
C) (x,y) =(1,3) ( x , y ) = ( 1,3 )
D) (x,y) =(3,9) ( x , y ) = ( 3,9 )

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