Paul's Utility Function Is Min{x + 3y, 3x + Y}

question 46

Multiple Choice

Paul's utility function is min{x + 3y, 3x + y}.Simon's utility function is min{3x + 9y, 9x + 3y}.Paul and Simon have the same income and face the same prices.

• A)Paul and Simon will demand the same amount of good x.
• B)Paul will demand more of good y than Simon.
• C)Simon will demand more of good y than Paul.
• D)Each will prefer the other's consumption bundle to his own.
• E)None of the above.

---

Definitions:

Pride

A feeling of self-respect and personal worth, often associated with achieving something important or valuable.

Autonomic Nervous System

The section of the nervous system responsible for managing automatic functions of the body like cardiac rhythm, respiratory processes, and digestive activities.

Physiological Arousal

A physical state of heightened alertness and increased activity in the autonomic nervous system, often as a response to a stimulus.

Different Emotions

A variety of emotional experiences and responses that humans feel, including happiness, sadness, anger, and fear.