The Utility Function U(x₁,x₂)= Min(x₁,x₂)is an Apt Description of Preferences

question 61

Multiple Choice

The utility function U(x₁,x₂) = min(x₁,x₂) is an apt description of preferences when:

• A)x₁ is money and x₂ is cocaine.
• B)x₁ is $5 bills and x₂ is $5 bills.
• C)x₁ is a Coke and x₂ is a Pepsi.
• D)x₁ is a left hand glove and x₂ is a right hand glove.

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