In Problem 1, Charlie has a utility function U(xA, xB) = xAxB, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $320, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
A) 80
B) 40
C) 160
D) 16
E) 240
Correct Answer:
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Q2: In Problem 2, Clara's utility function is
Q3: Charlie's utility function is U(xA, xB) =
Q4: In Problem 3, Ambrose's utility is U(x1,
Q5: In Problem 1, Charlie has a utility
Q6: In Problem 2, Clara's utility function is
Q7: In Problem 3, Ambrose's utility is U(x1,
Q8: In Problem 2, Clara's utility function is
Q9: Charlie's utility function is U(xA, xB) =
Q10: Charlie's utility function is U(xA, xB) =
Q11: In Problem 3, Ambrose's utility is U(x1,
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