Jane's Utility Function Is U(x,y)= 2xy

question 60

Multiple Choice

Jane's utility function is U(x,y) = 2xy. She has 2 units of good x and 4 units of good y. Tim's utility function is U(x,y) = 5x + 2y. He has 4 units of good x and 1 unit of good y. We can conclude that:

• A)each prefers their own bundle to the other's bundle.
• B)Jane prefers Tim's bundle to her own, but Tim prefers his own bundle to Jane's.
• C)each prefers the other's bundle to their own.
• D)Tim prefers Jane's bundle to his own, but Jane prefers her own bundle to Tim's.

Link the concept of corporate social responsibility with the broader principles of business strategy and citizenship.

Identify the ethical considerations in business decisions, including outcome-based ethics and duty-based ethics.

Appreciate the importance of ethical decision-making processes and theories, such as utilitarianism and the principle of rights theory, in business contexts.

Understand the challenges and complexities in interpreting and applying laws ethically in business decisions.

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Definitions:

Educational Process

The systematic method through which individuals acquire knowledge, skills, and values, typically within an institutional setting.

Academic Success

The achievement of set educational goals, measured through grades, test scores, and completion of educational levels.

Low-Productivity Group

A segment of the workforce or industries that have relatively lower output per unit of input when compared to others in the economy.

High-Productivity Group

The high-productivity group comprises individuals or entities that significantly outperform their counterparts in terms of output per unit of input, demonstrating efficiency and effectiveness in their operational activities.