Suppose the Consumer's Utility Function Is Given By $\mathrm { U } ( \mathrm { x } , \mathrm { y } ) = \mathrm { x } ^ { 1 / 4 } \mathrm { y } ^ { 3 / 4 }$

question 61

Multiple Choice

Suppose the consumer's utility function is given by $\mathrm { U } ( \mathrm { x } , \mathrm { y } ) = \mathrm { x } ^ { 1 / 4 } \mathrm { y } ^ { 3 / 4 }$ where $M U _ { x } = \frac { y ^ { \frac { 8 } { 4 } } } { 4 x ^ { \frac { 8 } { 4 } } } \quad M U _ { y } = \frac { 3 x ^ { \frac { 2 } { 4 } } } { 4 y ^ { \frac { 1 } { 4 } } }$
The equation for this consumer's demand curve for $x$ is:

• A) \(x = \frac { I } { 2 P _ { x } }\)
• B) \(x = \frac { I } { 4 P _ { x } }\)
• C) \(x = \frac { I } { P _ { x } }\)
• D) \(x = \frac { 3 I } { 4 P _ { x } }\)

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Definitions:

Trait Approach

A perspective in psychology that focuses on the identification and measurement of specific personality traits to understand and predict human behavior.

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Focused on completing tasks and achieving objectives efficiently, often prioritizing work and goals over social or emotional considerations.

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An approach that suggests individuals have preconceived notions about what qualities and characteristics constitute an effective leader.

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The process by which an individual becomes recognized as a leader by the group's members, often through displaying competence, charisma, or other leadership qualities.