Elmer's Utility Function Is U(x, Y) = Min{x, Y²}

question 36

Multiple Choice

Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $10 and the price of y is $15 and if Elmer chooses to consume 4 units of y, what must his income be?

• A) $220
• B) $100
• C) $320
• D) $440
• E) There is not enough information to determine his income.

---

Definitions:

Intrapersonal

Relating to or within a person's own self, often used in context of internal thoughts, feelings, and communication.

Howard Gardner

Howard Gardner is an American developmental psychologist best known for his theory of multiple intelligences, which suggests that intelligence is multifaceted and not solely measured by IQ.

IQ Scores

Numerical measurements derived from standardized tests designed to assess human intelligence and cognitive abilities.

WAIS-IIIR

The third revision of the Wechsler Adult Intelligence Scale, a tool used for measuring human intelligence.