Solved

Emily's Utility Function Is U(x, Y)= 3min{x, Y} + Y

Question 27

Multiple Choice

Emily's utility function is U(x, y) = 3min{x, y} + y.If we draw her indifference curves with x on the horizontal axis and y on the vertical axis, these indifference curves are


A) made up of two line segments that meet where x = 4y.One of these line segments is vertical and the other has slope -1.
B) L-shaped with kinks where x =4y.
C) L-shaped with kinks where x = y.
D) made up of two line segments that meet where x = y.One of these line segments is horizontal and the other has slope -3.
E) V-shaped with kinks where x = 3y.

Correct Answer:

verifed

Verified

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

Related Questions