Regardless of his income and regardless of prices, Smedley always spends 25% of his income on housing, 10% on clothing, 30% on food, 15% on transportation, and 20% on recreation.This behavior is consistent with which of the following?
A)All goods are perfect substitutes.
B)Smedley's demands for commodities do not change when their prices change.
C)Smedley consumes all goods in fixed proportions.
D)Smedley has a Cobb-Douglas utility function.
E)More than one of the above.

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The Answer of Regardless of his income and regardless of prices, Smedley always spends 25% of his income on housing, 10% on clothing, 30% on food, 15% on transportation, and 20% on recreation.This behavior is consistent with which of the following?
A)All goods are perfect substitutes.
B)Smedley's demands for commodities do not change when their prices change.
C)Smedley consumes all goods in fixed proportions.
D)Smedley has a Cobb-Douglas utility function.
E)More than one of the above.

Regardless of His Income and Regardless of Prices, Smedley Always