Suppose That $U ( x , y ) = \min ( 3 x , y )$

question 68

Multiple Choice

Suppose that $U ( x , y ) = \min ( 3 x , y )$ . Further suppose that $P _ { x } = \$ 5$ per unit and $P _ { y } = \$ 10$ per unit and income is $I = \$ 105$ . For this consumer, the optimal basket to buy would be which of the following?

• A) \(( x , y ) = ( 9,3 )\)
• B) \(( x , y ) = ( 3,1 )\)
• C) \(( x , y ) = ( 1,3 )\)
• D) \(( x , y ) = ( 3,9 )\)

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