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If an Individual's Utility Function for Coffee (X)and Cream (Y)is

Question 7

Multiple Choice

If an individual's utility function for coffee (x) and cream (y) is given by U(x,y) = min (x,5y) ,the demand function for coffee is given by


A) X = I/2px .
B) X = I/(px + py) .
C) X = I/(px + 0.2py) .
D) X = I/(px + py) 2.

Correct Answer:

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