If Someone Has the Utility Function U = 1,000

question 47

True/False

If someone has the utility function U = 1,000 + 2 min {x, y}, then x and y are perfect complements for that person.

---

Definitions:

Non-Callable

A term referring to a bond or other fixed-income security that cannot be redeemed by the issuer before its maturity date.

Long-Term Debt

Debt obligations that are due in more than one year, used by businesses and governments to finance their operations.

Common Shares

Common Shares are units of ownership in a company that entitle the shareholders to vote at shareholders' meetings and receive dividends.

EBITDA

Earnings before interest, taxes, depreciation, and amortization.