Let w be the number of whips and j the number of leather jackets. If Kinko's utility function is U(x, y) = min{ 7w, 4w + 12j}, then if the price of whips is $20 and the price of leather jackets is $40, Kinko will demand
A) 6 times as many whips as leather jackets.
B) 5 times as many leather jackets as whips.
C) 3 times as many whips as leather jackets.
D) 4 times as many whips as leather jackets.
E) only leather jackets.

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The Answer of Let w be the number of whips and j the number of leather jackets. If Kinko's utility function is U(x, y) = min{ 7w, 4w + 12j}, then if the price of whips is $20 and the price of leather jackets is $40, Kinko will demand
A) 6 times as many whips as leather jackets.
B) 5 times as many leather jackets as whips.
C) 3 times as many whips as leather jackets.
D) 4 times as many whips as leather jackets.
E) only leather jackets.

Let W Be the Number of Whips and J the Number