Ella's Utility Function Is Min{ 5x, Y}

question 23

Multiple Choice

Ella's utility function is min{ 5x, y}. If the price of x is $10 and the price of y is $15, how much money would she need to be able to purchase a bundle that she likes as well as the bundle (x, y) = (10, 25) ?

• A) $209
• B) $440
• C) $425
• D) $475
• E) $85

---

Definitions:

Comparative Study

A research approach that compares different groups, societies, or phenomena to understand differences or similarities.

Theoretical Camp

A group within academia that shares similar theoretical perspectives or methodologies.

Economic Elite

A small, relatively exclusive group of people who hold a disproportionate amount of wealth, influence, or power within an economy.

Socially Constructed

Socially constructed refers to the idea that society and culture create and maintain beliefs, behaviors, and norms, rather than these aspects being inherently natural or biological.