Phil Rupp's Sister Ethel Has the Utility Function U(x, Y)

question 17

Multiple Choice

Phil Rupp's sister Ethel has the utility function U(x, y) = min{ 4x + y, 5y}. Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

• A) vertical line segment and a horizontal line segment which meet in a kink along the line y = 4x.
• B) vertical line segment and a horizontal line segment which meet in a kink along the line x = 4y.
• C) horizontal line segment and a negatively sloped line segment which meet in a kink along the line x = y.
• D) positively sloped line segment and a negatively sloped line segment which meet along the line x = y.
• E) horizontal line segment and a positively sloped line segment which meet in a kink along the line x = 4y.

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Definitions:

Extranets

Private networks that allow controlled access to external users, enabling secure collaboration and information sharing with partners, suppliers, or customers.

Collaboration

The act of working together with others to achieve a common goal or task, often involving sharing knowledge, learning, and building consensus.

Procurement Portals

Corporate portals that automate the business processes involved in purchasing or procuring products between a single buyer and multiple suppliers.

Suppliers

Entities or individuals that provide goods or services to another entity, typically as part of a supply chain.