Betsy's Utility Function for BMWs and Money Is Given by 24,000x

question 12

Multiple Choice

Betsy's utility function for BMWs and money is given by 24,000x + y, where x is the number of BMWs she has and y is the amount of money she has. Her income is $32,000. Her reservation price for one BMW is

• A) $24,000.
• B) $24,000 - p.
• C) $24,000 - y.
• D) $8,000.
• E) $56,000.

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Definitions:

Post-colonial Theory

An intellectual discourse that analyses, explains, and responds to the cultural legacy of colonialism and imperialism.

Colonialism

The effects of imperialism, including concrete and ideological effects, within colonized territories.

Imperialism

The conquest of land, resources, and people’s labour; the ideas, practices, and attitudes of colonizers.

Colonial Discourse Studies

an academic field that examines the ways in which colonialism impacted the knowledge, language, and culture of both colonizers and colonized societies.