In Problem 6, Elmer's Utility Function Is U(x, Y) =

question 1

Multiple Choice

In Problem 6, Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $25, the price of y is $10, and Elmer chooses to consume 5 units of y, what must Elmer's income be?

• A) $1,350
• B) $175
• C) $775
• D) $675
• E) There is not enough information to tell.

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Definitions:

Stress Management

Techniques and strategies aimed at controlling a person's levels of stress for the purpose of improving everyday functioning.

Disruptive Behavior

Any actions that interfere with the harmonious and orderly flow of operation in a given environment.

Group Pressure

The influence exerted by a group on individual members to conform to the expectations, behaviors, or norms established by the group.

Group Control

The exercise of authority or influence by a person or group over the collective behavior in a group setting.