Elmer's Utility Function Is U(x, Y)= Min{x, Y²}

question 27

Multiple Choice

Elmer's utility function is U(x, y) = min{x, y²}.If the price of x is $20, the price of y is $30, and Elmer chooses to consume 4 units of y, what must Elmer's income be?

• A)$540
• B)$880
• C)$440
• D)$200
• E)There is not enough information to tell.

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Customer Structure

An organization structure that groups together people and jobs that serve the same customers or clients.

Consumer Products Industry

The sector of the economy that manufactures and sells goods used by the general public, ranging from food and beverages to electronics and household items.

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