In Problem 2, Clara's Utility Function Is U(X, Y) =

question 20

Multiple Choice

In Problem 2, Clara's utility function is U(X, Y) = (X + 2) (Y + 1) . If Clara's marginal rate of substitution is -6 and she is consuming 8 units of good X, how many units of good Y is she consuming?

• A) 14
• B) 60
• C) 59
• D) 6
• E) 13

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Definitions:

Millimetres

A unit of length in the metric system equal to one thousandth of a metre.

Outliers

Observations in data that are significantly distant from the majority of other data points, often indicating a measurement error or a novel phenomenon.

Gas Prices

The cost per unit volume of gasoline, often varying based on location, supply, demand, and taxes.

Distribution

The process by which goods are transported and delivered from a supplier to end consumer, or the statistical arrangement of values within a dataset.