If Jane's Utility Function Is Given by U = Xy

question 33

Multiple Choice

If Jane's utility function is given by U = xy:

• A)Jane prefers bundle (1,3)to bundle (2,5).
• B)Jane is indifferent between bundle (2,2)and bundle (2,1).
• C)Jane prefers bundle (2,2)to bundle (3,3).
• D)Jane is indifferent between bundle (1,2)and bundle (2,1).

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Definitions:

Sale

The exchange of goods, services, or property for money or its equivalent.

Finance Lease

A type of lease in which the lessee has use of the asset for a longer period, which is most of the asset's useful life, and the lease payments cover the full cost of the asset.

Usage Of Trade

Usage of trade refers to the regular practices and methods of dealing in a certain business or trade, which can be considered in interpreting contracts.

Unconscionability

A legal principle related to contracts that are so one-sided or unfair to one of the parties that they are considered voidable.