Solve this pls A consumer's utility function is U(x, y) = 4x + 3y. The price of x is 5 and the price of y is 2, and her income is 100. Whichone of the following is correct?= 800/91).O (a) The consumer will maximize utility if they consume the combination (x = 1500/91; y*O (b) The consumer will maximize utility by consuming x and y in fixed proportions.%3DO (C) The consumer will maximize utility if they devote all their income to the consumption of x.O (d) The consumer will maximize utility if they devote all their income to the consumption of y.

Utility Maximization is the situation where consumer gets higher satisfaction with given level of…

A consumer's utility function is U(x, y) = 4x + 3y. The price of x is 5 and the price of y is 2, and her income is 100. Which one of the following is correct? %3D O (a) The consumer will maximize utiluty if they consume the combination (x = 1500/91; y =800/91) %3D O (b) The consumer will maximize utility by consuming x and y in fixed proportions. O (c) The consumer will maximize utility if they devote all their income to the consumption of x. O (d) The consumer will maximize utility if they devote all their income to the consumption of y.

A consumer's utility function is U(x, y) = 4x + 3y. The price of x is 5 and the price of y is 2, and her income is 100. Which one of the following is correct? %3D O (a) The consumer will maximize utiluty if they consume the combination (x = 1500/91; y =800/91) %3D O (b) The consumer will maximize utility by consuming x and y in fixed proportions. O (c) The consumer will maximize utility if they devote all their income to the consumption of x. O (d) The consumer will maximize utility if they devote all their income to the consumption of y.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.14P

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