Which of the Following Utility Functions Is an Example of Quasi-Linear

question 50

Multiple Choice

Which of the following utility functions is an example of Quasi-linear preferences?

• A) \(U ( x , y ) = y \sqrt { x }\)
• B) \(U ( x , y ) = \min \{ 2 x , y \}\)
• C) \(U ( x , y ) = 3 x + 5 y\)
• D) \(U ( x , y ) = 2 x ^ { 2 } + 4 y\)

Analyze the conditions under which a firm should continue production or shut down in the short run.

Understand and apply the marginal decision rule in the context of economic profit maximization.

Analyze the effect of changes in market price on a firm’s marginal revenue, output level, and economic profit.

Distinguish between economic profit, total revenue, and total cost.

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Definitions:

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