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

question 22

Multiple Choice

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 $10, and Casper's income is $260, how many units of cocoa will he consume?

• A)12
• B)15
• C)29
• D)14
• E)30

---

Definitions:

Specialization And Trade

An economic strategy where individuals or nations focus on the production of certain goods or services where they have a comparative advantage, leading to increased efficiency and trade benefits.

Total Output

The total quantity of goods and services produced in an economy at a given time period.

Economies Of Scale

Cost advantages reaped by companies when production becomes efficient, leading to a decrease in the per unit cost as output increases.

Trade Sector

The segment of the economy that involves the exchange of goods and services across borders.