If an individual has the following utility function, U(x, y) = ln(x) +ln(y), then 2ex,px + ex,py ex, I is equal to: (a) -1 ANSWER (b) -1/2 (c) 0 (d) 1/2 (e) 1 PC
If an individual has the following utility function, U(x, y) = ln(x) +ln(y), then 2ex,px + ex,py ex, I is equal to: (a) -1 ANSWER (b) -1/2 (c) 0 (d) 1/2 (e) 1 PC
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:If an individual has the following utility function, U(x, y) = ln(x) +ln(y), then 2ex,px +
ex,py ex, I is equal to:
(a) -1 ANSWER
(b) -1/2
(c) 0
(d) 1/2
(e) 1
PC
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