Lolita's Utility Function Is U(x, Y)=x - X²/2 + Y

question 9

Multiple Choice

Lolita's utility function is U(x, y) =x - x²/2 + y, where x is her consumption of cow feed and y is her consumption of hay.If the price of cow feed is $.30, the price of hay is $1, and her income is $2 and if Lolita chooses the combination of hay and cow feed that she likes best from among those combinations she can afford, her utility will be

• A)2.24.
• B)1.70.
• C)0.24.
• D)3.24.
• E)1.24.

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