Suppose That a Consumer Has Utility Function $\mathrm { U } ( \mathrm { x } , \mathrm { y } )$

question 83

Multiple Choice

Suppose that a consumer has utility function $\mathrm { U } ( \mathrm { x } , \mathrm { y } )$ with $\mathrm { MUx } = 5 \mathrm { y } 2 \mathrm { x }$ and $\mathrm { MUy } = 2 \mathrm { x } 2 \mathrm { y }$ . What is the marginal rate of substitution?

• A) \(10 \mathrm { y } 3 \mathrm { x } 3\)
• B) \(2 \mathrm { x } / 5 \mathrm { y }\)
• C) \(5 y / 2 x\)
• D) \(5 \mathrm { y } 2 \mathrm { x } 2\)

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Definitions:

Sample Variances

A measure of the dispersion of a set of data points in a sample.

Matched Pairs Experiment

A research layout where participants are matched based on specific criteria, and within each pair, one individual is assigned each of the treatments.

Observational

A method of collecting data without manipulating the study environment or subjects, simply observing and recording information as it occurs naturally.

Experimental

Pertaining to the method or practice of testing hypotheses under controlled conditions to explore causality or effect.