Multiple Choice
Clara's utility function is U(X, Y) = (X + 2) (Y + 1) .If Clara's marginal rate of substitution is -2 and she is consuming 10 units of good X, how many units of good Y is she consuming?
A) 2
B) 24
C) 12
D) 23
E) 5
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Ambrose's utility function is = 4x<sup>1/2</sup><sub>1</sub> +
Q3: Ambrose's utility is U(x<sub>1</sub>, x<sub>2</sub>)= =4x<sup>1/2</sup><sub>1</sub>
Q4: Clara's utility function is U(X, Y)=
Q5: Clara's utility function is U(X, Y)=(X +
Q6: Charlie has a utility function U(x<sub>A</sub>, x<sub>B</sub>)=x<sub>A</sub>x<sub>B</sub>,
Q7: Ambrose's utility is U(x<sub>1</sub>, x<sub>2</sub>)== 4x<sup>1/2</sup><sub>1</sub> +
Q8: Charlie's utility function is U(x<sub>A</sub>, x<sub>B</sub>)=x<sub>A</sub>x<sub>B</sub>.If Charlie's
Q9: Elmer's utility function is U(x, y)=
Q10: Elmer's utility function is U(x, y)= min{x,
Q11: Charlie has a utility function U(x<sub>A</sub>, x<sub>B</sub>)=x<sub>A</sub>x<sub>B</sub>,