Given the Following Utility Function, U(x₁,x₂)= X₁ + X₂, Which

question 77

Multiple Choice

Given the following utility function, U(x₁,x₂) = x₁ + x₂, which of the following preference statements is not true?

• A)(1, 9)is preferred to (3, 5)
• B)(1, 4)is indifferent to (2, 2)
• C)(100, 0)is preferred to (1, 1)
• D)(4, 4)is indifferent to (3, 5)

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Definitions:

Trade-In Allowance

The value a seller offers for a buyer's old item as part of the payment for a new item, thereby reducing the cash payment needed.

Accumulated Depreciation

Represents the total depreciation expense that has been recorded against a fixed asset since it was acquired, reducing its book value on the balance sheet.

Fees

Fees are the charges levied by an entity in exchange for services or the grant of certain rights, differing from salaries or hourly wages.

Architect

A professional who plans, designs, and oversees the construction of buildings.