Exam 3: A: Utility

Phil Rupp, from Problem 4, has a sister Ethel who has the utility function U(x, y) = min{ 2x + y, 3y}. Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

Joe Bob from Problem 12 has a cousin Sam who consumes goods 1 and 2. Sam thinks that 2 units of good 1 is always a perfect substitute for 4 units of good 2. Which of the following utility functions is the only one that would not represent Sam's preferences?

In Problem 1, Charlie's utility function is U(A, B) = AB, where A and B are the numbers of apples and bananas, respectively, that he consumes. If Charlie is consuming 40 apples and 160 bananas, then if we put apples on the horizontal axis and bananas on the vertical axis, the slope of his indifference curve at his current consumption is

In Problem 7, Harry Mazzola has the utility function U(x₁, x₂) = min{x₁ + 2x₂, 2x₁ + x₂}. He has $40 to spend on corn chips and french fries. If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

Joe Bob from Problem 12 has a cousin Pete who consumes goods 1 and 2. Pete thinks that 3 units of good 1 is always a perfect substitute for 4 units of good 2. Which of the following utility functions is the only one that would not represent Pete's preferences?

Phil Rupp, from Problem 4, has a sister Ethel who has the utility function U(x, y) = min{ 3x + y, 4y}. Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

In Problem 7, Harry Mazzola has the utility function U(x₁, x₂) = min{x₁ + 2x₂, 2x₁ + x₂}. He has $40 to spend on corn chips and french fries. If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

In Problem 1, Charlie has the utility function U(x_A, x_B) = x_Ax_B. His indifference curve passing through 6 apples and 16 bananas will also pass through the point where he consumes 2 apples and

In Problem 1, Charlie has the utility function U(x_A, x_B) = x_Ax_B. His indifference curve passing through 12 apples and 64 bananas will also pass through the point where he consumes 2 apples and

In Problem 1, Charlie's utility function is U(A, B) = AB, where A and B are the numbers of apples and bananas, respectively, that he consumes. If Charlie is consuming 30 apples and 120 bananas, then if we put apples on the horizontal axis and bananas on the vertical axis, the slope of his indifference curve at his current consumption is

Joe Bob from Problem 12 has a cousin Ike who consumes goods 1 and 2. Ike thinks that 4 units of good 1 is always a perfect substitute for 2 units of good 2. Which of the following utility functions is the only one that would not represent Ike's preferences?

Joe Bob from Problem 12 has a cousin Don who consumes goods 1 and 2. Don thinks that 3 units of good 1 is always a perfect substitute for 2 units of good 2. Which of the following utility functions is the only one that would not represent Don's preferences?

Phil Rupp, from Problem 4, has a sister Ethel who has the utility function U(x, y) = min{ 5x + y, 6y}. Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

In Problem 7, Harry Mazzola has the utility function U(x₁, x₂) = min{x₁ + 2x₂, 2x₁ + x₂}. He has $40 to spend on corn chips and french fries. If the price of corn chips is $4 per unit and the price of french fries is $2 per unit, then Harry will

In Problem 7, Harry Mazzola has the utility function U(x₁, x₂) = min{x₁ + 2x₂, 2x₁ + x₂}. He has $40 to spend on corn chips and french fries. If the price of corn chips is $3 per unit and the price of french fries is $5 per unit, then Harry will

In Problem 1, Charlie has the utility function U(x_A, x_B) = x_Ax_B. His indifference curve passing through 40 apples and 9 bananas will also pass through the point where he consumes 5 apples and

Phil Rupp, from Problem 4, has a sister Ethel who has the utility function U(x, y) = min{ 4x + y, 5y}. Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

In Problem 1, Charlie has the utility function U(x_A, x_B) = x_Ax_B. His indifference curve passing through 15 apples and 16 bananas will also pass through the point where he consumes 3 apples and

In Problem 2, Ambrose has the utility function U(x₁, x₂) = . If Ambrose were initially consuming 4 units of nuts (good 1) and 27 units of berries (good 2), then what is the largest number of berries that he would be willing to give up in return for an additional 21 units of nuts?

Joe Bob from Problem 12 has a cousin Martin who consumes goods 1 and 2. Martin thinks that 2 units of good 1 is always a perfect substitute for 4 units of good 2. Which of the following utility functions is the only one that would not represent Martin's preferences?