Ike's Utility Function Is U(x, Y)= Xy

question 20

Multiple Choice

Ike's utility function is U(x, y) = xy.Ike consumes 2 units of x and 8 units of y.

• A)Ike would be willing to make small exchanges of x for y in which he would give up 4 units of x for every unit of y he got.
• B)Ike would be willing to trade away all of his x for y as long as he got more than 4 units of y for every unit of x he gave up.
• C)Ike will always be willing to make trades at any price if he does not have equal amounts of the two goods.
• D)Ike likes x and y equally well so he is always willing to exchange 1 unit of either good for more than 1 unit of the other.
• E)None of the above.

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Definitions:

Report

A Report is a detailed written or spoken account of something that has been observed, checked, or investigated, often used to convey information in business, research, or news contexts.

Dorsal Roots

Nerve fibers that carry sensory information from the body to the spinal cord, part of the central nervous system.

Ventral Roots

The efferent motor root of a spinal nerve, through which motor neurons exit the spinal cord.

Spinal Nerves

Nerves that emerge from the spinal cord, crucial for transmitting motor, sensory, and autonomic signals between the spinal cord and the body.