consumer has a utility function given by U(x, y) = 3x2 + 2y. The price of x and y are both equal to 1. Which of the following is true?а.To maximize utility, the consumer should consume only xb. The consumer has convex preferencesС.To maximize utility, the consumer should consume only yd. At the consumer's optimal consumption bundle, we should have 3x = 4y

A consumer has a utility function given by U(x, y) = 3x + 2y. The price of x and y are both equal to Which of the following is true? O a. To maximize utility, the consumer should consume only x O b. The consumer has convex preferences O c. To maximize utility, the consumer should consume only y O d. At the consumer's optimal consumption bundle, we should have 3x = 4y

A consumer has a utility function given by U(x, y) = 3x + 2y. The price of x and y are both equal to Which of the following is true? O a. To maximize utility, the consumer should consume only x O b. The consumer has convex preferences O c. To maximize utility, the consumer should consume only y O d. At the consumer's optimal consumption bundle, we should have 3x = 4y

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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