Yona's utility function is U(x,y) = 4 * x + 3 * y.The price of one unit of x is 7, the price of one unit of y is 5.Without knowing Yona budget, can we still say something about how her best affordable bundle will look like?O a.It only contains good y, but not good y.O b. It only contains good x, but not good y.O c.It will contain both good x and good y.O d. Impossible to say.Previous page20:23P Type here to search01/12/2021

here utility function U(x,y)=4x +3y also we have Px(price of good x)=7 and Py(price of good y)=5 so,…

Yona's utility function is U(x,y) = 4 *x +3 * y. %3D The price of one unit of x is 7, the price of one unit of y is 5. Without knowing Yona budget, can we still say something about how her best affordable bundle will look like?

Yona's utility function is U(x,y) = 4 x +3 y. %3D The price of one unit of x is 7, the price of one unit of y is 5. Without knowing Yona budget, can we still say something about how her best affordable bundle will look like?

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

Yona's utility function is U(x,y) = 4 * x + 3 * y.
The price of one unit of x is 7, the price of one unit of y is 5.
Without knowing Yona budget, can we still say something about how her best affordable bundle will look like?
O a.
It only contains good y, but not good y.
O b. It only contains good x, but not good y.
O c.
It will contain both good x and good y.
O d. Impossible to say.
Previous page
20:23
P Type here to search
01/12/2021

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