Recall That Casper's Utility Function Is 3x + Y, Where

question 8

Multiple Choice

recall that Casper's utility function is 3x + y, where x is his consumption of cocoa and y is his consumption of cheese.If the total cost of x units of cocoa is x², the price of cheese is $4, and Casper's income is $51, how many units of cocoa will he consume?

• A)3
• B)5
• C)11
• D)6
• E)12

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Definitions:

Shoes

Footwear items designed to protect and provide comfort to the human foot while performing various activities.

Elasticity of Demand

A measure of how much the quantity demanded of a good changes in response to a change in the price of that good.

Taxes on Gasoline

Government-imposed charges on the sale of gasoline, typically used to fund transportation infrastructure and other public projects.

Tax Revenue

Government income generated from the imposition of taxes.