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A. gets $3 per week as an allowance to spend any way he pleases. Because he likes only peanut butter and jelly sandwiches, he spends
A. gets $3 per week as an allowance to spend any way he pleases. Because he likes only peanut butter and jelly sandwiches, he spends the entire amount on peanut butter (at $.05 per once, X) and jelly (at $.10 per ounce, Y). (Bread is provided free of charge by a concerned neighbor!). He iS a particular eater and makes his sandwiches with exactly 1 ounce of jelly and 2 ounces of peanut butter. His utility Function will be: A. U = 2x+y, B. U = min{0.5x,y}, C. U = x+2y D. U = min{x,y}, E. U = min{2x,y}, 1A
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