Ella's Utility Function Is Min{ 5x, Y}

question 40

Multiple Choice

Ella's utility function is min{ 5x, y}. If the price of x is $20 and the price of y is $20, how much money would she need to be able to purchase a bundle that she likes as well as the bundle (x, y) = (7, 15) ?

• A) $440
• B) $360
• C) $177
• D) $372
• E) $72

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