Joe Bob's Cousin Leonard Consumes Goods 1 and 2

question 17

Multiple Choice

Joe Bob's cousin Leonard consumes goods 1 and 2.Leonard thinks that 2 units of good 1 is always a perfect substitute for 3 units of good 2.Which of the following utility functions is the only one that would not represent Leonard's preferences?

• A)U(x₁, x₂) = 3x₁ + 2x₂ + 1,000.
• B)U(x₁, x₂) = 9x²₁ +12x₁x₂ + 4x²₂.
• C)U(x₁, x₂)=min{3x₁, 2x₂}.
• D)U(x₁, x₂)= 30x₁ + 20x₂ - 10,000.
• E)More than one of the above does not represent Leonard's preferences.

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Definitions:

Conclusion Indicator

Words or phrases used in argumentation to signal that a conclusion is being drawn, such as "therefore" or "thus."

Thus

A term used to introduce a logical conclusion or result from the preceding argument or statement.

Argumentation

The process of constructing and presenting arguments, involving reasoning and evidence, to persuade or inform others in a discussion or debate.

Persuade

To induce someone to do or believe something through reasoning or argument.