Charlie's Utility Function Is U(x_A, X_B)=x_Ax_B

question 19

Multiple Choice

Charlie's utility function is U(x_A, x_B) =x_Ax_B.If Charlie's income were $40, the price of apples were $2, and the price of bananas were $3, how many apples would there be in the best bundle that Charlie could afford?

• A)6
• B)20
• C)4
• D)5
• E)10

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Definitions:

Indicative Score

A score that suggests or gives an indication of a student's performance level or capability in a specific area.

Cumulative Distribution

A function that shows the probability that a random variable takes a value less than or equal to a specific value.

Percentile Rank

A measure showing the percent of scores within its distribution that it equals or surpasses.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean.