Multiple Choice
Alfredo lives on apples and bananas only.His utility function is U(a, b) = min{a + b, 2b}.He maximizes his utility subject to his budget constraint and consumes the bundle (a, b) = (4, 4) .
A) pa > pb.
B) pa is less than or equal to pb.
C) pa = pb.
D) pa = 2pb.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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