Jim's Utility Function Is U(x, Y) = Xy

question 5

Multiple Choice

Jim's utility function is U(x, y) = xy. Jerry's utility function is U(x, y) = 1,000xy + 2,000. Tammy's utility function is U(x, y) = xy(1 - xy) . Oral's utility function is - . Billy's utility function is . Pat's utility function is U(x, y) = -xy.

• A) No two of these people have the same preferences.
• B) They all have the same preferences except for Billy.
• C) Jim, Jerry, and Pat all have the same indifference curves, but Jerry and Oral are the only ones with the same preferences as Jim.
• D) Jim, Tammy, and Oral all have the same preferences.
• E) None of the above.

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Definitions:

Deaf and Blind

Refers to individuals who have impairments in both hearing and vision, significantly affecting their communication and learning methods.

Facial Expressions

The movements or positions of the face that convey emotional states or reactions to situations.

Trial and Error

A problem-solving method that involves attempting different solutions and eliminating those that do not work, to find the one that does.

Darwin

A naturalist known for his theory of evolution through natural selection.