Poindexter's Utility Function Is U(x, Y) = Min{x + 2y

question 16

Multiple Choice

Poindexter's utility function is U(x, y) = min{x + 2y, 3x + y}, where x is butter and y is guns. If the price of butter is $4 and the price of guns is $5, what would it cost Poindexter to buy the cheapest bundle that he likes as well as 4 units of butter and 3 units of guns?

• A) $31
• B) $32
• C) $29
• D) $28
• E) None of the above.

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Definitions:

Hostage Taker

An individual who captures and holds others against their will, typically to achieve certain demands or goals.

Fatigued

The state of being very tired either physically or mentally.

Accommodation

A modification or adjustment to a job, environment, or the way things are usually done to enable individuals with disabilities to have equal opportunities.

Psychological Toll

The psychological toll refers to the mental and emotional burden or strain experienced as a result of stressful, traumatic, or challenging situations.