For Every Two Boxes of Strawberries That She Consumes, Millicent

question 51

Multiple Choice

For every two boxes of strawberries that she consumes, Millicent insists on having one pitcher of cream. She does not, however, insist on consuming the same amount every week. Her utility functions is U = min{s₁, 2c₁} min{s₂, 2c₂}, where s₁ and s₂ are the number of boxes of strawberries she consumes this week and next week and c₁ and c₂ are the number of pitchers of cream she consumes this week and next. Strawberries cost $2 a box and cream costs $1 a pitcher. She has a present value of $100 to spend on these goods in the next two weeks. The weekly interest rate is 1%. How many boxes of strawberries will she consume this week?

• A) 10
• B) 20
• C) 22
• D) 14.1
• E) 6.06

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Definitions:

Scientific Method

A systematic approach to research in which questions are answered through experiments and observations, leading to empirical evidence.

Society

A collection of people engaged in continuous social interactions, or a significant social group inhabiting the same geographical or social region, generally governed by the same political authority and prevailing cultural norms.

Diachronic

Pertaining to the study of phenomena, especially languages, as they change over time.

Authenticity

The quality of being genuine or true; often associated with the pursuit of actions or expressions that are consistent with one's true self or values.