Ella's Utility Function Is Min{5x, Y}

question 35

Multiple Choice

Ella's utility function is min{5x, y}.If the price of x is $20 and the price of y is $20, how much money would she need to be able to purchase a bundle that she likes as well as the bundle (x, y) = (7, 15) ?

• A)$440
• B)$360
• C)$177
• D)$372
• E)$72

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Definitions:

Warehouse

A large building where raw materials or manufactured goods may be stored before their distribution for sale.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to unintended harm to others.

Municipal Dump

A designated area operated by a local government where waste and trash are disposed of and sometimes processed or recycled.

Old Bicycle

This term simply describes a bicycle that is not new, possibly indicating it is used, vintage, or not in its prime condition.