Suppose the Consumer's Utility Function Is Given by U(x,y) = $\frac { I } { 2 P _ { y } }$

question 29

Multiple Choice

Suppose the consumer's utility function is given by U(x,y) = xy + y where MU_x = y MU_y = x+1
The equation for this consumer's demand curve for y when I < P_x is

• A) y^d = 0
• B) y^d = \(\frac { I } { 2 P _ { y } }\)
• C) y^d = \(\frac { I } { P _ { y } }\)
• D) y^d = 1/2

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Definitions:

Declared Independence

The formal assertion by a specific territory or group that it is independent and constitutes a state, no longer under the control or governance of a foreign power.

Heavily Industrialized

Pertains to regions or economies that are significantly developed in terms of manufacturing, factory operations, and industrial sector activities.

Internal Dialogue

The conversation within one's mind, reflecting on thoughts, feelings, and decisions, often used in literature to reveal a character's inner conflicts.

Strategic Importance

The significance of a location, asset, or action due to its potential impact on an entity's overall strategic objectives, often in military, economic, or political terms.