Casper's Utility Function Is 3x + Y, Where X Is

question 69

Multiple Choice

Casper's utility function is 3x + y, where x is his consumption of cocoa and y is his consumption of cheese. If the total cost of x units of cocoa is x², the price of cheese is $10, and Casper's income is $260, how many units of cocoa will he consume?

• A) 12
• B) 15
• C) 29
• D) 14
• E) 30

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Definitions:

Variance

A statistic that represents the extent to which a set of numbers is spread out, calculating the average of the squared differences from the Mean.

Original Units

The units in which the data was originally measured or collected before any transformations or conversions.

Skewed

A description of a statistical distribution that is not symmetrical, indicating that data points tend to extend more to one side of the mean than the other.

Median

The middle value of a data set when it is ordered from least to greatest, separating the higher half from the lower half.