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

question 5

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) 59
• B) 6
• C) 60
• D) 14
• E) 13

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Definitions:

Integrated HRM System

A coordinated approach to managing an organization’s human resources that often involves technology and combines various HR functions into a seamless operation.

Future Needs

Anticipated requirements or demands that may arise in the foreseeable future.

Entry Skill Levels

Refer to the initial qualifications or abilities that an individual must possess to undertake a specific job or role.

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Activities aimed at enhancing the skills, knowledge, and competencies of employees to improve their job performance.