Solved

Phil Rupp,has a Sister Ethel Who Has the Utility Function

Question 25

Multiple Choice

Phil Rupp,has a sister Ethel who has the utility function U(x, y) =min{2x + y, 3y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a


A) vertical line segment and a horizontal line segment that meet in a kink along the line x = 2y.
B) positively sloped line segment and a negatively sloped line segment that meet along the line x = y.
C) horizontal line segment and a negatively sloped line segment that meet in a kink along the line x = y.
D) vertical line segment and a horizontal line segment that meet in a kink along the line y =2x.
E) horizontal line segment and a positively sloped line segment that meet in a kink along the line x = 2y.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions