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Suppose U=min⁡(X,Y)U = \min ( X , Y ) And the Price of X Is 1,the Price of Y

Question 8

Multiple Choice

Suppose U=min⁡(X,Y) U = \min ( X , Y ) and the price of X is 1,the price of Y is 1 and income is $12.If the price of X increases to 2,the income effect (in terms of units of X bought) is


A) 2
B) -1
C) 0
D) -2

Correct Answer:

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