Economics · Consumer Theory
A utility-maximizing consumer has a utility function given by U(X, Y) = 2X + Y. His budget constraint is given by X + 2Y = 10. In equilibrium, he will purchase:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1X* = 10, Y* = 10
- 2X* = 0, Y* = 5
- 3X* = 10, Y* = 0✓
- 4X* = 5, Y* = 5
Correct answer
X* = 10, Y* = 0
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