A Person with the Utility Function U(x, Y)= 10

question 8

True/False

A person with the utility function U(x, y)= 10 + y² + x has convex preferences.

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Definitions:

Decision-making Process

A systematic approach to making choices among various options based on reasoning and analysis.

Force-coercion Strategy

A strategy used to effect change within an organization through the use of power, authority, or force, often leading to compliance without genuine agreement.

Formal Authority

The power given to an individual or group by a recognized entity, typically within an organizational context, to make decisions and direct others.

Rewards

Benefits or compensations provided to individuals or groups in recognition of their performance, efforts, or achievements.