Sheldon is very picky and his utility function of consuming cereal (C) and apple juice (A) is U=min(3C, 4A). Based on the utility function, Sheldon only consumes C and A in the following fixed proportions O A) C/A=3/2 B) C/A=4/3 O C) C/A=3/4 O D) C/A=2/3

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter4: Utility Maximization And Choice
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Sheldon is very picky and his utility function of consuming cereal (C) and apple juice
(A) is U=min(3C, 4A). Based on the utility function, Sheldon only consumes C and A
in the following fixed proportions
O A) C/A=3/2
B) C/A=4/3
O C) C/A=3/4
O D) C/A=2/3
Transcribed Image Text:Sheldon is very picky and his utility function of consuming cereal (C) and apple juice (A) is U=min(3C, 4A). Based on the utility function, Sheldon only consumes C and A in the following fixed proportions O A) C/A=3/2 B) C/A=4/3 O C) C/A=3/4 O D) C/A=2/3
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