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       #Post#: 54--------------------------------------------------
       2009-2010 past paper section A question 1 c
   DIR By: Julia.Wirtz
       Date: December 30, 2012, 10:27 am
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       Question:
       Can you amplify what doe the question mean in the 2009-2010 past
       paper section A question 1 c: now assume that u (x1,x2,x3)=min
       x1,x2,x3.  it is kind of weired
       Answer:
       It's the same idea as in our problem set with u (x1,x2)=min
       {x1,x2},
       olnly now you have 3 goods instead of 2. Your utility is given
       by the
       number of units of the good you have least of. This is called
       Leontief
       utility.
       E.g. if you have 4 units of good 1, 5 units of good 2, and  6
       units of
       good 3, your utility is 4.
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