Ken's Utility Function Is U(Q_K, W_K)=Q_KW_K and Barbie's Utility Function

question 15

Multiple Choice

Ken's utility function is U(Q_K, W_K) =Q_KW_K and Barbie's utility function is U(Q_B, W_B) =Q_BW_B.If Ken's initial endowment were 6 units of quiche and 9 units of wine and Barbie's endowment were 12 units of quiche and 9 units of wine, then at any Pareto optimal allocation where both persons consume some of each good,

• A)Ken would consume 18 units of quiche for every 18 units of wine that he consumes.
• B)Barbie would consume 12 units of quiche for every 9 units of wine that she consumes.
• C)Ken would consume 6 units of quiche for every 9 units of wine.
• D)Barbie would consume twice as much quiche as Ken.
• E)None of the above.

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Definitions:

Behavior Can Be Conditioned

The concept that actions can be influenced or learned through associations with outcomes or stimuli, as seen in classical and operant conditioning.

Unconscious Thoughts

Mental processes that occur automatically and are not available to introspection.

How You Think

Refers to the processes and patterns involved in an individual's cognition or thought, including reasoning, problem-solving, and making judgments.

Family Therapy

Special form of group therapy consisting of one or more families.