On the Planet Hyperion Every Consumer Who Has Ever Lived

question 4

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 10 doggerels per unit and the price of y was 4 doggerels per unit.Paasche price index of prices in 2000 relative to prices in 1850 is

• A)3.50.
• B)6.
• C)2.50.
• D)4.67.
• E)not possible to determine without further information.

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Definitions:

Heavy Caseloads

A scenario where a professional, such as a lawyer or social worker, has more cases or clients to manage than is reasonably manageable, potentially affecting service quality.

Treatment Function

In criminal justice, refers to the efforts aimed at rehabilitating offenders and preparing them for successful reintegration into society.

Control Function

A process within management used to monitor performance and ensure that objectives are achieved.

Corruption

The abuse of entrusted power for private gain, often undermining the integrity of institutions and causing harm to society.