On the Planet Hyperion Every Consumer Who Has Ever Lived

question 12

Multiple Choice

On the planet Hyperion every consumer who has ever lived has a utility function U(x, y) = min{x, 2y}. The currency of Hyperion is the doggerel. In 1850 the price of x was 1 doggerel per unit and the price of y was 2 doggerels per unit. In 2000, the price of x was 11 doggerels per unit and the price of y was 4 doggerels per unit. The Paasche price index of prices in 2000 relative to prices in 1850 is

• A) 6.50.
• B) 5.
• C) 2.75.
• D) 3.75.
• E) not possible to determine without further information.

---

Definitions:

Loan Manager

An individual responsible for overseeing and directing the loan process within a financial institution.

Effective Apology

An apology that acknowledges wrongdoing, conveys remorse, offers a clear statement of regret, and, where possible, makes amends.

Approval Process

A structured sequence of steps or actions required to validate and authorize a proposal or action.

Art of Forgiving

The practice or skill of pardoning or excusing others for mistakes or wrongdoings, fostering reconciliation and emotional healing.