Suppose That a Consumer Has the Utility Function U =

question 3

Multiple Choice

Suppose that a consumer has the utility function U = 5X + 7Y. The MRS_x,y is

• A) 7/5
• B) 5/7
• C) 1.00 since X and Y are perfect substitutes.
• D) 0 since X and Y are perfect complements.

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Definitions:

Normative Commitment

A commitment to the organization based on feelings of obligation.

Performance Review

A formal assessment where an employee's work performance is evaluated and discussed.

Hiring Process

A series of steps taken by employers to recruit, select, and onboard new employees effectively.

Performance Evaluation

The systematic assessment of an individual's job performance, typically conducted by supervisors or managers to make informed decisions regarding employment matters.