Carl Has the Utility Function U(x,y)= X² + Y

question 41

Multiple Choice

Carl has the utility function U(x,y) = x² + y. He consumes 4 units of x and 10 units of y. If both goods are normal goods and if the price of x increases, then:

• A)Carl will reduce his consumption of x to zero.
• B)Carl will consume more x.
• C)Carl will reduce his consumption of x to a positive amount.
• D)Carl will consume the same amount of x.

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Definitions:

Federal Pay Equity Legislation

Laws enacted by the federal government aimed at eliminating wage discrepancies between employees performing work of equal value, irrespective of gender.

Employment Equity

A principle of fair treatment in the workplace that seeks to eliminate discrimination and encourage diversity in hiring, training, and promotion practices.

Employment Equity

Efforts and policies aimed at eliminating discrimination and achieving equal opportunity for all employees in the workplace.