Leo's Utility Function Is Min{x, 3y + 2z}

question 63

Multiple Choice

Leo's utility function is min{x, 3y + 2z}. The price of x is $1, the price of y is $9, and the price of z is $8. Leo's income is $8. How many units of x does Leo demand?

• A) 2
• B) 1.60
• C) 5
• D) 7
• E) None of the above.

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