Suppose Your Utility from Consuming X and Y Is Expressed

question 122

Multiple Choice

Suppose your utility from consuming X and Y is expressed as u(X,Y) = ln(XY) where ln() is the natural logarithm operator. Given this information, which of the following statements is NOT true?

• A) The marginal utility of X may be positive or negative (depending on the quantity of X and Y consumed).
• B) The marginal utility of X does not depend on the quantity of Y consumed.
• C) The marginal utility of Y does not depend on the quantity of X consumed.
• D) all of these statements are not true

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Definitions:

British Government

The central government of the United Kingdom, composed of the Executive (Cabinet and Prime Minister), the Legislature (Parliament), and the Judiciary.

Boycott

A protest in which people refuse to buy, use, or participate in something as a way of expressing disapproval or forcing change.

Montesquieu

A French philosopher known for his articulation of the theory of separation of powers, which is implemented in many constitutions around the world.

Tyranny

A form of government in which a single ruler holds absolute power and often governs without regard for justice or the rights of citizens.