In Problem 1, Charlie Has a Utility Function U(x_A, X_B)

question 16

Multiple Choice

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $160, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

• A) 8
• B) 40
• C) 20
• D) 80
• E) 120

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Definitions:

Work Team's Performance

The measure of efficiency and effectiveness with which a group of individuals achieves its collective goals and objectives.

Cohesiveness

The degree to which members are attracted to and motivated to remain part of a team.

Norms

Shared expectations or rules that guide behavior in a group, organization, or society.

Storming Stage

A phase in team development characterized by conflict and competition as group members establish their roles.