Charlie Has a Utility Function U(x, Y) = (X

question 57

Multiple Choice

Charlie has a utility function U(x, y) = (x + 3) (y + 4) . The price of x is $1 and the price of y is $1. When he maximizes his utility subject to his budget constraint, he consumes positive amounts of both goods. Charlie consumes

• A) 2 more units of x than he consumes of y.
• B) 1 more unit of x than he consumes of y.
• C) exactly as many units of x as of y.
• D) 1 more unit of y than he consumes of x.
• E) None of the above.

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Definitions:

Minerals

Naturally occurring inorganic substances with a definite chemical composition and crystalline structure, essential for human health.

MyPlate Program

A nutritional guide created by the USDA to help Americans make healthier food choices.

Healthier Food Choices

The selection of foods that are beneficial to one's health, typically involving foods high in nutrients and low in unhealthy fats, sugars, and sodium.