Suppose the Utility Function $U = f ( x , y ) \text { is a measure of the utility (or satisfaction) }$

question 106

Multiple Choice

Suppose the utility function $U = f ( x , y ) \text { is a measure of the utility (or satisfaction) }$ derived by a person from the consumption of two products x and y. Determine the marginal utility of product $x$ if the utility function is $U = - 5 x ^ { 2 } + x y - 7 y ^ { 2 }$ .

• A) \(U _ { x } = - 7 x + y\)
• B) \(U _ { x } = - 9 x - y\)
• C) \(U _ { x } = - 10 x + y\)
• D) \(U _ { x } = - 14 x - y\)
• E) \(U _ { x } = - 11 x + y\)

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Definitions:

Glaser And Strauss

Sociologists who developed the grounded theory methodology, focusing on generating theory from empirical data.

Norm

A plan of action or expected behavior pattern thought to be appropriate for a particular situation.

Kubler-Ross's Stages

A model detailing five stages of grief individuals often experience after loss: denial, anger, bargaining, depression, and acceptance.

Universality

The quality of being universally applicable or prevalent across all cultures, situations, or communities.