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Assume that the utility is U=X + ln(Y), where x and y are goods consumed . Which is the following statement is correct? Question 23Answer
Assume that the utility is U=X + ln(Y), where x and y are goods consumed . Which is the following statement is correct? Question 23Answer a. None is correct. b. Optimal Y depends on the prices of both goods and income. c. Optimal Y increases with income. d. Optimal Y is independent of income. e. Optimal Y is independent of the price of x
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International Economics
Authors: Dominick Salvatore
11th edition
978-1118177938, 1118177932, 1119915732, 978-1118476017, 1118476018, 978-1119915737
