Wanda Littlemore's Utility Function Is U(x, Y)= X + 47y

question 27

Multiple Choice

Wanda Littlemore's utility function is U(x, y) = x + 47y - 3y².Her income is $107.If the price of x is $1 and the price of y is $23, how many units of good x will Wanda demand?

• A)11
• B)19
• C)0
• D)18
• E)15

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Definitions:

Enterprising Nonprofits

Nonprofit organizations that adopt business methods and practices to generate revenue for their social, environmental, or cultural missions.

Venture Philanthropy

An approach to charitable giving that applies the principles of venture capital financing to philanthropic projects, focusing on accountability, performance measurement, and long-term engagement.

Earned-Income Activities

Activities performed by non-profit organizations or businesses that generate revenue through the sale of goods and services rather than through donations.

Social Entrepreneurs

Individuals who establish enterprises with the goal of solving social problems or effecting social change, using business principles for public good.