Case Studies Ordinarily Bring About All of the Following Trainee

Question 50
Multiple Choice

Robert's utility function is U(x, y) = min{ 4x, 2x + y}. The price of x is $3 and the price of y is $1. Robert's income offer curve is A) a ray from the origin with a slope of 2. B) a line parallel to the x axis. C) a line parallel to the y axis. D) the same as his Engel curve for x. E) none of the above.