Astrid's Utility Function Is U(H_A, C_A)= H_AC_A

Multiple Choice

Astrid's utility function is U(H_A, C_A) = H_AC_A.Birger's utility function is min{H_B, C_B}.If Astrid's initial endowment is no cheese and 13 units of herring and if Birger's initial endowments are 12 units of cheese and no herring, then where p is a competitive equilibrium price of herring and cheese is the numeraire, demand equals supply in the herring market.This implies that

A) 12/(p + 1) + 6.50 = 13.
B) 12/13 = p.
C) 13/12 = p.
D) 12/p + 13/2p = 13.
E) min{13, 12} = p.