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

question 58

Multiple Choice

Elmer's utility function is U(x, y) =min{x, y²}.If the price of x is $10 and the price of y is $15 and if Elmer chooses to consume 4 units of y, what must his income be?

• A)$220
• B)$100
• C)$320
• D)$440
• E)There is not enough information to determine his income.

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