Emily's Utility Function Is U(x, Y) = 3min{x, Y}

question 51

Multiple Choice

Emily's utility function is U(x, y) = 3min{x, y} + y. If we draw her indifference curves with x on the horizontal axis and y on the vertical axis, these indifference curves are

• A) made up of two line segments that meet where x = 4y. One of these line segments is vertical and the other has slope -1.
• B) L-shaped with kinks where x = 4y.
• C) L-shaped with kinks where x = y.
• D) made up of two line segments that meet where x = y. One of these line segments is horizontal and the other has slope -3.
• E) V-shaped with kinks where x = 3y.

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Definitions:

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