Janet consumes x₁ and x₂ together in fixed proportions.She always consumes 2 units of x₁ for every unit x₂.One utility function that describes her preferences is A)U(x₁, x₂)=2x₁x₂. B)U(x₁, x₂)=2x₁ = x₂. C)U(x₁, x₂)=x₁ + 2x₂. D)U(x₁, x₂)=min{2x₁, x₂}. E)U(x₁, x₂)=min{x₁, 2x₂}.

Question

Quizplus · Accepted Answer

The Answer of Janet consumes x₁ and x₂ together in fixed proportions.She always consumes 2 units of x₁ for every unit x₂.One utility function that describes her preferences is A)U(x₁, x₂)=2x₁x₂. B)U(x₁, x₂)=2x₁ = x₂. C)U(x₁, x₂)=x₁ + 2x₂. D)U(x₁, x₂)=min{2x₁, x₂}. E)U(x₁, x₂)=min{x₁, 2x₂}.

Janet Consumes X1 and X2 Together in Fixed Proportions

Janet Consumes X₁ and X₂ Together in Fixed Proportions