Alfredo Lives on Apples and Bananas Only

question 64

Multiple Choice

Alfredo lives on apples and bananas only. His utility function is U(a, b) = min{a + b, 2b}. He maximizes his utility subject to his budget constraint and consumes the bundle (a, b) = (4, 4) .

• A) p_a > p_b.
• B) p_a is less than or equal to p_b.
• C) p_a = p_b.
• D) p_a = 2p_b.
• E) None of the above.

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Definitions:

Keto-enol Tautomerization

Keto-enol tautomerization is a chemical equilibrium between a ketone (or aldehyde) and an enol (an alcohol directly bonded to a carbon-carbon double bond), where hydrogen atoms and double bonds are redistributed.

6-phosphate Ester

Refers to a compound containing a phosphate group attached to the sixth carbon of a sugar or organic molecule, commonly involved in energy transfer and signaling pathways.

Sucrose

A sweet substance made from glucose and fructose, familiarly referred to as the sugar found in sugar bowls.

Monosaccharides

Simple sugars that are the most basic units of carbohydrates, with a single polyhydroxy aldehyde or ketone unit.