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

question 16

Multiple Choice

Elmer's utility function is U(x, y) = min{x, y²}.If the price of x is $25, the price of y is $10, and Elmer chooses to consume 5 units of y, what must Elmer's income be?

• A)$1,350
• B)$175
• C)$775
• D)$675
• E)There is not enough information to tell.

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