Phil Rupp, from Problem 4, Has a Sister Ethel Who

question 6

Multiple Choice

Phil Rupp, from Problem 4, has a sister Ethel who has the utility function U(x, y) = min{ 3x + y, 4y}. Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

• A) positively sloped line segment and a negatively sloped line segment that meet along the line x = y.
• B) vertical line segment and a horizontal line segment that meet in a kink along the line y = 3x.
• C) horizontal line segment and a negatively sloped line segment that meet in a kink along the line x = y.
• D) vertical line segment and a horizontal line segment that meet in a kink along the line x = 3y.
• E) horizontal line segment and a positively sloped line segment that meet in a kink along the line x = 3y.

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Definitions:

Prosumer

Someone who writes reviews, posts comments, and shares content within a network of friends and followers.

Reviewers

Individuals who evaluate or critique products, services, literature, or academic works, often providing feedback or ratings to guide potential consumers or users.

Uniformity

The quality or state of being the same in form, appearance, or character; often signifies consistency across various elements of a brand or product.

Deadly Sins

A term often used figuratively to describe the most serious mistakes or pitfalls in a particular context.