Where X Is Whips and Y Is Leather Jackets, If

question 32

Multiple Choice

where x is whips and y is leather jackets, if Kinko's utility function were U(x, y) = min{8x, 4x + 16y}, then if the price of whips were $20 and the price of leather jackets were $60, Kinko would demand

• A)6 times as many whips as leather jackets.
• B)5 times as many leather jackets as whips.
• C)3 times as many leather jackets as whips.
• D)4 times as many whips as leather jackets.
• E)only leather jackets.

---

Definitions:

Reduce Risk

Strategies or actions taken to minimize the likelihood of harm or adverse outcomes.

Émile Durkheim

A French sociologist, one of the founding figures in the field of sociology known for his studies on social structure and integration.

Altruistic Suicide

Suicide committed by people who believe that taking their own life will benefit society.

Benefit Society

An organization that provides mutual aid, insurance, and financial or social benefits to its members.