George has $18 which he decides to spend on x and y. Commodity x costs $6...

 

Transcribed Image Text:

George has $18 which he decides to spend on x and y. Commodity x costs $6 per unit and commodity y costs $9 per unit. He has the utility function U(x, y) = x² + y² and he can purchase fractional units of x and y. George will choose a. only y. b. some of each commodity but more x than y.< c. only x. d. some of each commodity but more y than x. J e. equal amounts of the two commodities. George has $18 which he decides to spend on x and y. Commodity x costs $6 per unit and commodity y costs $9 per unit. He has the utility function U(x, y) = x² + y² and he can purchase fractional units of x and y. George will choose a. only y. b. some of each commodity but more x than y.< c. only x. d. some of each commodity but more y than x. J e. equal amounts of the two commodities.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Answer i We have given in the ... View the full answer