If Bernice (Whose Utility Function Is Min{x, Y}, Where X

question 23

Multiple Choice

If Bernice (whose utility function is min{x, y}, where x is her consumption of earrings and y is money left for other stuff) had an income of $20 and was paying a price of $1 for earrings when the price of earrings went up to $6, then the equivalent variation of the price change was

• A)$50.
• B)$14.29.
• C)$7.14.
• D)$100.
• E)$32.14.

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Definitions:

Normal Pulse

The regular beat of the heart, typically measured as beats per minute, which indicates the heart's health and functioning.

Lordosis

A condition characterized by an excessive inward curvature of the spine, commonly occurring in the lower back.

Lower Extremity

Refers to the lower limbs or legs of the human body, including the thighs, knees, calves, ankles, and feet.

Swayback

A postural deviation where there is an excessive inward curvature of the lower back, leading to a protruding abdomen and a slumped posture.