Sam's Utility Function Is U(x, Y)=2x + Y, Where X

question 38

Multiple Choice

Sam's utility function is U(x, y) =2x + y, where x is the number of x's he consumes per week and y is the number of y's he consumes per week.Sam has $200 a week to spend.The price of x is $4.Sam currently doesn't consume any y.Sam has received an invitation to join a club devoted to the consumption of y.If he joins the club, Sam can get a discount on the purchase of y.If he belonged to the club, he could buy y for $1 a unit.How much is the most Sam would be willing to pay to join this club?

• A)Nothing
• B)$100 a week
• C)$50 a week
• D)$40 a week
• E)None of the above.

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Definitions:

Color Constancy

The perceptual phenomenon by which the colors of objects are perceived as relatively constant even under changing lighting conditions.

Cerebral Cortex

The outer layer of the brain's cerebrum, involved in complex brain functions like thought, memory, and consciousness.

Color Vision

Color vision is the ability of the eye and brain to distinguish objects based on the wavelengths of the light they reflect, transmit, or emit, allowing us to perceive different colors.

Vision Deficiency

A broad term covering any type of impairment in vision that cannot be corrected completely with glasses, contact lenses, or surgery.