Phil Rupp, has a sister Ethel who has the utility function U(x, y) =min{3x + y, 4y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a
A) positively sloped line segment and a negatively sloped line segment that meet along the line x = y.
B) vertical line segment and a horizontal line segment that meet in a kink along the line y =3x.
C) horizontal line segment and a negatively sloped line segment that meet in a kink along the line x = y.
D) vertical line segment and a horizontal line segment that meet in a kink along the line x =3y.
E) horizontal line segment and a positively sloped line segment that meet in a kink along the line x = 3y.
Correct Answer:
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