Howard has the utility function . His income is $30.
A) Howard does not like good y.
B) Howard has a bliss point.
C) If the price of good x is $4 and the price of good y is $1, Howard will buy 2 units of y.
D) Howard will buy good y only if it is cheaper than good x.
E) None of the above.

Question

Howard has the utility function  . His income is $30.
A) Howard does not like good y. 
B) Howard has a bliss point. 
C) If the price of good x is $4 and the price of good y is $1, Howard will buy 2 units of y. 
D) Howard will buy good y only if it is cheaper than good x. 
E) None of the above.

Quizplus · Accepted Answer

The Answer of Howard has the utility function  . His income is $30.
A) Howard does not like good y. 
B) Howard has a bliss point. 
C) If the price of good x is $4 and the price of good y is $1, Howard will buy 2 units of y. 
D) Howard will buy good y only if it is cheaper than good x. 
E) None of the above.

Howard Has the Utility Function