Mr Inflexible's Utility Function Is U(x₁,x₂)= Min(x₁,x₂)

question 77

Multiple Choice

Mr. Inflexible's utility function is U(x₁,x₂) = min(x₁,x₂) . The price of x₁ is $1, the price of x₂ is $2, and Mr. Inflexible's budget is $120. His utility maximizing consumption bundle is:

• A)(20, 40).
• B)(20, 50).
• C)(40, 40).
• D)(60, 30).

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