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      Question

      Let the utility function of a consumer be

      given by U(x,y) = min {y+2x, x+2y}. Prices are given by Px=1, Py=3, while the consumer’s income is M=20. Then her equilibrium consumption will be
      A (5,5) Correct Answer Incorrect Answer
      B (15,5) Correct Answer Incorrect Answer
      C (5,15) Correct Answer Incorrect Answer
      D (15,15) Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

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