Kens Utility Function Is U(Q K, W K ) =

question 37

Multiple Choice

Kens utility function is U(Q K, W K ) = Q K W K and Barbies utility function is U(Q B, W B ) = Q B W B. If Kens initial endowment were 5 units of quiche and 9 units of wine and Barbies endowment were 10 units of quiche and 9 units of wine, then at any Pareto optimal allocation where both persons consumed some of each good,

• A) Ken would consume 15 units of quiche for every 18 units of wine that he consumed.
• B) Barbie would consume twice as much quiche as Ken.
• C) Ken would consume 5 units of quiche for every 9 units of wine that he consumed.
• D) Barbie would consume 10 units of quiche for every 9 units of wine that she consumed.
• E) None of the above.

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Definitions:

Public Assistance

Government programs designed to provide financial aid, services, or support to individuals or families in need.

Supplemental Security Income

A federal program in the United States that provides additional income to elderly, blind, or disabled individuals with little or no income to meet basic living needs.

Medical Expenses

Costs incurred by individuals for healthcare services, treatments, medications, and other health-related needs.

TANF

Temporary Assistance for Needy Families, a federal assistance program in the United States aimed at helping families achieve self-sufficiency through employment.