Ollie Has a Utility Function U(x, Y) = (X

question 14

Multiple Choice

Ollie has a utility function U(x, y) = (x + 2) (y + 3) . The price of x is $1 and the price of y is $1. When he maximizes his utility subject to his budget constraint, he consumes positive amounts of both goods. Ollie consumes

• A) exactly as many units of x as of y.
• B) 1 more unit of x than he consumes of y.
• C) 1 more unit of y than he consumes of x.
• D) 2 more units of x than he consumes of y.
• E) None of the above.

---

Definitions:

Laissez-faire Leader

A leadership style characterized by minimal direct supervision, where followers are given freedom to make decisions and solve problems on their own.

Team Members

are individuals who are part of a group collaboratively working towards a common goal.

Command-and-control

A management style characterized by strict authority, emphasizing obedience and adherence to direct orders.

Human Relations Leader

A managerial role focused on supporting, motivating, and dealing with employees in a way that emphasizes positive interpersonal relationships.