Jane's Utility Function Is U(x, Y) = X + 2y

question 52

Multiple Choice

Jane's utility function is U(x, y) = x + 2y, where x is her consumption of good X and y is her consumption of good Y. Her income is $2. The price of Y is $2. The cost per unit of X depends on how many units she buys. The total cost of x units of X is the square root of x.

• A) The bundle () is Jane's utility maximizing choice, given her budget
• B) The bundle () is Jane's utility maximizing choice, given her budget.
• C) Given her budget, Jane would maximize her utility by spending all of her income on good X.
• D) Given her budget, Jane would maximize her utility by spending all of her income on good Y.
• E) None of the above.

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