Q 51

Alfredo lives on apples and bananas only. His utility function is U(a, b) = min{a + b, 2b}. He maximizes his utility subject to his budget constraint and consumes the bundle (a, b) = (4, 4).
A) p_{a} > p_{b}.
B) p_{a} is less than or equal to p_{b}.
C) p_{a} = p_{b}.
D) p_{a} = 2p_{b}.
E) None of the above.

Q 52

Miss Muffet insists on consuming 2 units of whey per 1 unit of curds. If the price of curds is $5 and the price of whey is $3, then if Miss Muffet's income is m, her demand for curds will be

Q 53

Miss Muffet insists on consuming 2 units of whey per 1 unit of curds. If the price of curds is $5 and the price of whey is $6, then if Miss Muffet's income is m, her demand for curds will be