Desiree's Utility Function for BMWs and Money Is Given by 9,000x

question 10

Multiple Choice

Desiree's utility function for BMWs and money is given by 9,000x + y, where x is the number of BMWs she has and y is the amount of money she has.Her income is $22,000.Her reservation price for one BMW is

• A)$9,000 - p.
• B)$9,000.
• C)$13,000.
• D)$9,000 - y.
• E)$31,000.

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Definitions:

College Graduate

An individual who has successfully completed a course of study at a college or university, earning an undergraduate or graduate degree.

Income Inequality

The unequal distribution of income among the participants of an economy.

Income Share

The portion of total national or organizational income received by an individual, group, or class, often analyzed in discussions of income distribution inequality.

Highest Percentage

Refers to the highest ratio or fraction, often expressed as a percentage, within a set of figures or statistical data.