A Person with a Quasilinear Utility Function Will

question 21

Multiple Choice

A person with a quasilinear utility function will

• A)have a price elasticity of demand equal to zero for some goods.
• B)have an income elasticity of demand equal to one for some goods.
• C)necessarily consume zero quantity of some good.
• D)necessarily consume positive amounts of every good.
• E)none of the above.

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Definitions:

Society

A structured community of people that share common cultures, institutions, and interests, living together in organized communities.

Self-esteem

is the perception one has of their own value or worth, often influencing mental health and behavior patterns.

Ability

The possession of the means or skill to perform tasks or actions effectively.

Succeed

To achieve a desired outcome, goal, or objective, often through effort or skill.