A Graph of the Utility Function U = 4Y

question 28

Multiple Choice

A graph of the utility function U = 4Y + X would reveal that goods X and Y are:

• A) perfect substitutes.
• B) near substitutes.
• C) perfect complements.
• D) near complements.

Understand sociometric techniques and their relevance in social assessments.

Understand the basic concepts and significance of genetic and environmental influences on human development.

Comprehend the foundational principles of psychoanalytic theory and its impact on personality development.

Grasp the concept of epigenetics and its role in gene expression influenced by environmental factors.

---

Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given period.

Price Change

A variation in the cost of goods or services over time, either increasing or decreasing based on market conditions.

Price Elasticity

Price elasticity measures how much the quantity demanded of a good responds to a change in its price, indicating the sensitivity of consumers to price changes.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price within a specified period.