Tim Has Preferences Represented by the Utility Function U(x, Y)=

question 2

Multiple Choice

Tim has preferences represented by the utility function U(x, y) = min{6x + y, x + 2y}.If x is on the horizontal axis and y is on the vertical axis, what is the slope of his indifference curve at the point (8,9) ?

• A)-6
• B)-2/6
• C)-1/2
• D)-1/6
• E)-8/9

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Definitions:

Enduring Change

A lasting transformation within an individual, organization, or society that persists over time.

Behavior

The actions or reactions of an individual or group in response to external or internal stimuli.

Learning

Learning is an enduring change in behavior that results from experience.

Experience

The knowledge or skill acquired through involvement in or exposure to events, practices, or observations over time.