John consumes apples and bananas. John 's utility function is U(x, y)=x+ywhere x is the number of apples and y is the number of bananas. He has 40apples and 5 bananas. Which of the following bundles would John prefer tohis?25 apples, 25 bananas20 apples, 20 bananaO 30 apples, 5 bananasO 10 apples, 30 bananas15 apples, 15 bananas

If an individual has a set of alternatives that can be rank-ordered according to the preference of…

Answered: John consumes apples a where x is the…

John consumes apples a where x is the number of apples and 5 bananas. W his? 25 apples, 25 bananas O 20 apples, 20 banana O 30 apples, 5 bananas O 10 apples, 30 bananas O 15 apples, 15 bananas

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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John consumes apples and bananas. John 's utility function is U(x, y)=x+y
where x is the number of apples and y is the number of bananas. He has 40
apples and 5 bananas. Which of the following bundles would John prefer to
his?
25 apples, 25 bananas
20 apples, 20 banana
O 30 apples, 5 bananas
O 10 apples, 30 bananas
15 apples, 15 bananas

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