Question
The following are the utility functions of five different individuals named 1,2,3,4 and 5 for a bundle of goods (, 2). Each has the
The following are the utility functions of five different individuals named 1,2,3,4 and 5 for a bundle of goods (, 2). Each has the same budget and faces the same prices for each of the goods. Which, if any, of these agents will choose the same utility maximizing bundle? 1. U(1, ) = x1x2 2. U(x1, x2) 1000x12 = -1 3. U3(x1, x2) = 2+1 #172+1 4. U(1, ) = x2 - 1000 5. Us(x1, x2) = x(x+1)
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
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