New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Let the utility function of a consumer be

    given by U(x,y) = min {y+2x, x+2y}. Prices are given by Px=1, Py=3, while the consumer’s income is M=20. Then her equilibrium consumption will be
    A (5,5) Correct Answer Incorrect Answer
    B (15,5) Correct Answer Incorrect Answer
    C (5,15) Correct Answer Incorrect Answer
    D (15,15) Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

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