Phil Rupp's Sister Ethel Has the Utility Function U(x, Y)=

question 32

Multiple Choice

Phil Rupp's sister Ethel has the utility function U(x, y) = min{4x + y, 5y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

• A)vertical line segment and a horizontal line segment which meet in a kink along the line y = 4x.
• B)vertical line segment and a horizontal line segment which meet in a kink along the line x = 4y.
• C)horizontal line segment and a negatively sloped line segment which meet in a kink along the line x = y.
• D)positively sloped line segment and a negatively sloped line segment which meet along the line x = y.
• E)horizontal line segment and a positively sloped line segment which meet in a kink along the line x = 4y.

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Definitions:

Equilibrium Point

A condition or state where all competing influences are balanced, often referred to in physical and economic models.

Competitive Inhibition

Binding of a substance (the competitive inhibitor) to the active site of an enzyme, thus lowering the rate of the reaction catalyzed by the enzyme. Compare with noncompetitive inhibition.

Allosteric Site

A site on an enzyme other than the active site, where binding of a molecule can change the enzyme's activity, often regulating its function.

Inhibitor

A substance that slows down or stops a chemical reaction or a biological process.