Kitty's Utility Function for BMWs and Money Is Given by 16,000x

question 11

Multiple Choice

Kitty's utility function for BMWs and money is given by 16,000x + y, where x is the number of BMWs she has and y is the amount of money she has. Her income is $23,000. Her reservation price for one BMW is

• A) $16,000 - y.
• B) $16,000 - p.
• C) $16,000.
• D) $7,000.
• E) $39,000.

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Definitions:

Eye Contact

The act of two individuals looking directly into each other's eyes, which can communicate various messages or feelings, including trust, aggression, or affection.

Paying Attention

The act of focusing one’s consciousness or concentrating on a particular object, task, or activity.

Positive Body Language

Non-verbal communication that conveys a positive attitude or response through gestures, facial expressions, and posture.

Eye Contact

A non-verbal form of communication which occurs when two people look directly into each other's eyes.