(See Problem 2

question 18

Multiple Choice

(See Problem 2.) Robinson Crusoe has exactly 12 hours per day to spend gathering coconuts or catching fish. He can catch 2 fish per hour or he can pick 4 coconuts per hour. His utility function is U(F, C) = FC, where F is his consumption of fish and C is his consumption of coconuts. If he allocates his time in the best possible way between catching fish and picking coconuts, his consumption will be the same as it would be if he could buy fish and coconuts in a competitive market where the price of coconuts is $1, his income is

• A) $48 and the price of fish is $2.
• B) $48 and the price of fish is $.50.
• C) $24 and the price of fish is $2.
• D) $72 and the price of fish is $2.
• E) $36 and the price of fish is $.50.

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Definitions:

Supportive

Providing encouragement, aid, or comfort to someone, offering a foundation of emotional or practical assistance.

Vertical Segregation

The division of job roles based on hierarchical positions where one gender predominates in certain levels of an organization, often with men in higher-status positions.

Occupational Hierarchy

The arrangement of jobs and professions in an ordered system, often based on prestige, authority, or income.

Glass Ceiling

A metaphor for the invisible barrier that prevents certain individuals, often women and minorities, from rising to the upper rungs of the corporate ladder, regardless of their qualifications or achievements.