Kyle's Utility Function Is U = 4X + 3

question 108

Multiple Choice

Kyle's utility function is U = 4X + 3.7Y, where X is units of good X and Y is units of good Y. What is the marginal utility of good X?

• A) 4X + 3.7
• B) 4
• C) 0.3X
• D) U/4

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Definitions:

Epistemological

Pertaining to the theory of knowledge, including the methods, validity, and scope of understanding.

Ontological

Pertaining to the nature of being, existence, or reality, often considered within the branch of metaphysics dealing with the nature of what is.

Axiological

Relating to the branch of philosophy dealing with values, including those in ethics and aesthetics, as it pertains to research.

Creswell and Plano Clark

Authors known for their work on research methodologies, particularly in mixed methods research.