New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    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

    Practice Next