Which of the Following Utility Functions Is an Example of Preferences

question 42

Multiple Choice

Which of the following utility functions is an example of preferences for perfect substitutes?

• A) \(U ( x , y ) = y \sqrt { x }\)
• B) \(U ( x , y ) = \min \{ 2 x , y \}\)
• C) \(U ( x , y ) = 3 x + 5 y\)
• D) \(U ( x , y ) = 2 x ^ { 2 } + 4 y\)

Analyze the body's physiological responses to changes in posture, blood chemistry, and oxygen levels.

Understand the concept of comparative and absolute advantage in trade.

Analyze the impacts of trade on production and consumption efficiencies.

Depict and interpret the production possibilities frontier and its implications for economic choice and trade-offs.

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