Phil Rupp, from Problem 4, Has a Sister Ethel Who

question 1

Multiple Choice

Phil Rupp, from Problem 4, has a sister Ethel who has the utility function U(x, y) = min{ 2x + y, 3y}. Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

• A) vertical line segment and a horizontal line segment that meet in a kink along the line x = 2y.
• B) positively sloped line segment and a negatively sloped line segment that meet along the line x = y.
• C) horizontal line segment and a negatively sloped line segment that meet in a kink along the line x = y.
• D) vertical line segment and a horizontal line segment that meet in a kink along the line y = 2x.
• E) horizontal line segment and a positively sloped line segment that meet in a kink along the line x = 2y.

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Definitions:

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