Frank's Utility Function Is U = 10X + 6Y

question 90

Multiple Choice

Frank's utility function is U = 10X + 6Y. Frank has a budget of $60 to spend on goods X and Y. The price of good X is $3 and the price of good Y is $2. How many units of good X and good Y does Frank purchase?

• A) X = 20 and Y = 0
• B) X = 0 and Y = 10
• C) X = 15 and Y = 5
• D) X = 10 and Y = 20

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Definitions:

Basic Emotions

Fundamental emotional states, such as happiness, sadness, fear, disgust, anger, and surprise, that are universal and biologically based.

Primary Emotions

Fundamental emotions that are universal and experienced by all, such as happiness, sadness, fear, and anger.

Trust

The firm belief in the reliability, truth, ability, or strength of someone or something.

Responsive

Showing a quick and positive reaction to changes or to the needs of a situation or person.