denotes his consumption Joseph's utility function is given by U=xA + 2xB, where of apples and xg his consumption of bananas. If a banana cost 50 cents and an apple XA costs also 50 cents, how many apples will he buy if his income is $10?
denotes his consumption Joseph's utility function is given by U=xA + 2xB, where of apples and xg his consumption of bananas. If a banana cost 50 cents and an apple XA costs also 50 cents, how many apples will he buy if his income is $10?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Joseph's utility function is given by U=xA + 2xB, where xA denotes his consumption
of apples and xB his consumption of bananas. If a banana cost 50 cents and an apple
costs also 50 cents, how many apples will he buy if his income is $10?
O A) 5
O B) 0
OC) 20
D) 10](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F39e0df17-ad8c-4199-aeec-4dbcd0a552ce%2F2e6c45cb-158a-428c-9d05-aade27256858%2Fedmpeik_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Joseph's utility function is given by U=xA + 2xB, where xA denotes his consumption
of apples and xB his consumption of bananas. If a banana cost 50 cents and an apple
costs also 50 cents, how many apples will he buy if his income is $10?
O A) 5
O B) 0
OC) 20
D) 10
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