Jack and Jill live in the same village where they both face the same price. Jack has preferences that can be represented by the utility H (X, Y) = X+Y. Jill has preferences that can be represented by the utility function R (X, Y) = 3X+ 3Y. Which of the following statement is true? a. Jill gets greater satisfaction from her consumption than Jack b. the quantity of X purchased by Jack plus the quantity of X purchase by Jill will equal the total quantity of why they purchase c. Jack and Jill will always purchase the same quantity of X with the same income d. attacks on X would have a greater welfare effect on Jack than on Tom

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
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Jack and Jill live in the same village where they both face the same price. Jack has preferences that
can be represented by the utility H (X, Y) = X+Y. Jill has preferences that can be represented by
the utility function R (X, Y) = 3X+ 3Y. Which of the following statement is true?
a. Jill gets greater satisfaction from her consumption than Jack
b. the quantity of X purchased by Jack plus the quantity of X purchase by Jill will equal the
total quantity of why they purchase
c. Jack and Jill will always purchase the same quantity of X with the same income
d. attacks on X would have a greater welfare effect on Jack than on Tom
Transcribed Image Text:Jack and Jill live in the same village where they both face the same price. Jack has preferences that can be represented by the utility H (X, Y) = X+Y. Jill has preferences that can be represented by the utility function R (X, Y) = 3X+ 3Y. Which of the following statement is true? a. Jill gets greater satisfaction from her consumption than Jack b. the quantity of X purchased by Jack plus the quantity of X purchase by Jill will equal the total quantity of why they purchase c. Jack and Jill will always purchase the same quantity of X with the same income d. attacks on X would have a greater welfare effect on Jack than on Tom
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