Suppose That Mutt's Utility Function Is U(m, J)= Max{2m, J}

question 21

Multiple Choice

Suppose that Mutt's utility function is U(m, j) = max{2m, j} and Jeff's utility function is U(m, j) = 3m + j.Mutt is initially endowed with 6 units of milk and 2 units of juice, and Jeff is initially endowed with 2 units of milk and 6 units of juice.If we draw an Edgeworth box with milk on the horizontal axis and juice on the vertical axis and if we measure goods for Mutt by the distance from the lower left corner of the box, then the set of Pareto optimal allocations includes the

• A)left edge of the Edgeworth box but no other edges.
• B)bottom edge of the Edgeworth box but no other edges.
• C)left edge and bottom edge of the Edgeworth box.
• D)right edge of the Edgeworth box but no other edges.
• E)right edge and top edge of the Edgeworth box.

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Definitions:

Negative Self-talk

Refers to the inner dialogue that criticizes or demeans oneself, often leading to decreased motivation and self-esteem.

Self-efficacy

An individual's belief in their own capacity to execute behaviors necessary to produce specific performance attainments.

Pessimistic View

An outlook characterized by the expectation that unfavorable outcomes are likely to occur in a situation or the future.

Self-confident

The state of being secure in oneself and one's abilities, characterized by assertiveness and self-assurance.