Kitty's Utility Function for BMWs and Money Is Given by 16,000x

question 2

Multiple Choice

Kitty's utility function for BMWs and money is given by 16,000x + y, where x is the number of BMWs she has and y is the amount of money she has.Her income is $23,000.Her reservation price for one BMW is

• A)$16,000 - y.
• B)$16,000 - p.
• C)$16,000.
• D)$7,000.
• E)$39,000.

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Definitions:

Feeding Back

Providing evaluative or corrective information about an action, event, or process to the original source.

Prepared and Receptive

The state of being ready and open to receive new information or experiences.

Blocking Responses

communication tactics that dismiss, ignore, or minimize another person's ideas or feelings, often hindering effective dialogue.

Active Response

A proactive and engaged reaction to a particular challenge, stimulus, or event, especially in contexts such as cybersecurity, customer service, or emergency situations.