On the Planet Hyperion Every Consumer Who Has Ever Lived

question 13

Multiple Choice

On the planet Hyperion every consumer who has ever lived has a utility function U(x, y) = min{x, 2y}.The currency of Hyperion is the doggerel.In 1850 the price of x was 1 doggerel per unit and the price of y was 2 doggerels per unit.In 2000, the price of x was 4 doggerels per unit and the price of y was 4 doggerels per unit.The Paasche price index of prices in 2000 relative to prices in 1850 is

• A)2.
• B)3.
• C)1.
• D)2.67.
• E)not possible to determine without further information.

---

Definitions:

Total Requests

The cumulative number of queries or petitions made over a certain period or within a given system.

Conversion Rate

The percentage of visitors to a website who take a desired action, such as making a purchase, signing up for a service, or filling out a form, indicative of the site's effectiveness in converting prospects into customers.

Online Contest

A competition conducted over the internet where participants can win prizes based on skill, chance, or a combination of both.

Recommend Contest

Suggesting a competition whereby participants are invited to endorse or propose something or someone for recognition or a prize.