Doreen Has Preferences Represented by the Utility Function U(x, Y)

question 57

Multiple Choice

Doreen has preferences represented by the utility function U(x, y) = 10x + 5y. She consumes 10 units of good x and 9 units of good y. If her consumption of good x is lowered to 1, how many units of y must she have in order to be exactly as well off as before?

• A) 30
• B) 30.
• C) 27
• D) 18
• E) None of the above.

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Definitions:

European Hegemony

Describes the period or condition where European powers dominated world politics, economics, and culture, often through colonization and imperialism.

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The period of geopolitical tension between the Soviet Union and the United States and their respective allies, from the end of World War II until the dissolution of the Soviet Union in 1991.

Global Output

The total value of goods and services produced worldwide over a specific time period.

Percent

A part or portion of a whole expressed as a fraction of 100.