Janet Consumes Two Commodities X and Y

question 17

Multiple Choice

Janet consumes two commodities x and y.Her utility function is min{x+2y, y + 2x}.She chooses to buy 10 units of good x and 20 units of good y.The price of good x is $1.Janet's income is

• A)$40.
• B)$50.
• C)$30.
• D)$20.
• E)There is not enough information in the problem to determine her income because we are not told the price of good y.

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Definitions:

Spiritual Values

Core beliefs and practices that relate to the meaning of life and connection to a higher power, often guiding personal behavior and worldviews.

White Southerners

White Southerners traditionally refers to the white inhabitants of the Southern United States, particularly those living there during historical periods of significant racial division.

Total Population

The entirety of individuals living in a specific area or country at a given time.

Owned Slaves

Refers to individuals or entities that held ownership over other human beings as property, typically in the context of historical slavery practices.