The following graph displays Bars indifference curves: Pepsi Coke a. What type of utility function generated these indifference curves? A. Cobb Douglas OB. Perfect Substitutes OC. Perfect Complements OD. Leontieff b. If Pepsi costs $2 per bottle, while Coke costs $1, and Bill has a $20 budget to spend for the month, what is the budget constraint? OA 2C+P 20 OB. P+2C 10 OC. P+C = 10 D. 2PC 20 Hooke
The following graph displays Bars indifference curves: Pepsi Coke a. What type of utility function generated these indifference curves? A. Cobb Douglas OB. Perfect Substitutes OC. Perfect Complements OD. Leontieff b. If Pepsi costs $2 per bottle, while Coke costs $1, and Bill has a $20 budget to spend for the month, what is the budget constraint? OA 2C+P 20 OB. P+2C 10 OC. P+C = 10 D. 2PC 20 Hooke
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.7P
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