Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Benjamin spends his time either watching movies ( x 1 ) or listening to songs - MP3 downloaded from the Internet ( x 2 )

Benjamin spends his time either watching movies (x1) or listening to songs - MP3 downloaded from the Internet (x2) . His preferences are described by U(x1,x2) = ln(x1)+ ln(x2). Which of the following is NOT correct?

a. a straight line with slope 2.

b. a horizontal line.

c. a vertical line.

d. a straight line with a slope of 1/2.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Economics

Authors: Wade Hands, D Wade Hands

2nd Edition

0195133781, 9780195133783

More Books

Students also viewed these Economics questions