On the Planet Hyperion Every Consumer Who Has Ever Lived

question 23

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 10 doggerels per unit and the price of y was 4 doggerels per unit. Paasche price index of prices in 2000 relative to prices in 1850 is

• A)3.50.
• B) 6.
• C) 2.50.
• D) 4.67.
• E) not possible to determine without further information.

Analyze different philosophical views on the role of business in society, including profit maximization and duty to stakeholders.

Grasp the foundational ethical theories, including duty-based ethics, outcome-based ethics, and the principle of rights theory.

Distinguish between legal compliance and ethical decision-making beyond the law.

Understand the impact of laws, such as the Sarbanes-Oxley Act, on promoting ethical business practices.

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