If someone has the utility function U = 1,000 + 2min {x, y}, then x and y are perfect complements for that person.

Name: If someone has the utility function U = 1,000 + 2min {x, y}, then x and y are perfect complements for that person.
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Quizplus · Accepted Answer

The utility function U = 1,000 + 2min {x, y} indicates that the utility depends on the minimum of x and y, which is characteristic of perfect complements where goods are consumed in fixed proportions.

If Someone Has the Utility Function U = 1,000