Paul's Utility Function Is Min{x + 3y, 3x + Y}

question 46

Multiple Choice

Paul's utility function is min{x + 3y, 3x + y}.Simon's utility function is min{3x + 9y, 9x + 3y}.Paul and Simon have the same income and face the same prices.

• A)Paul and Simon will demand the same amount of good x.
• B)Paul will demand more of good y than Simon.
• C)Simon will demand more of good y than Paul.
• D)Each will prefer the other's consumption bundle to his own.
• E)None of the above.

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