Josephine's Utility Function Is U(x, Y) = Y + 5x

question 52

Multiple Choice

Josephine's utility function is U(x, y) = y + 5x^.5. She has 1 unit of x and 2 units of y. If her consumption of x is reduced to zero, how much y must she have in order to be exactly as well off as before?

• A) 14 units
• B) 9 units
• C) 11 units
• D) 7 units
• E) None of the above.

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Definitions:

Carbonic Acid

A weak, unstable acid (H2CO3) formed in solution when carbon dioxide dissolves in water and participates in the carbonate buffer system in blood.

Asserted Proposition

A statement or claim declared to be true within the context of a logical argument or discourse.

Noun Clause

A subordinate clause that functions as a noun within a sentence.

Noun Clause

A subordinate clause that functions as a noun within a larger sentence.