Professor Nightsoil's Utility Function Is U_N(B_N, P_N)= B_N + 4p^1/2_N

question 7

Multiple Choice

Professor Nightsoil's utility function is U_N(B_N, P_N) = B_N + 4p^1/2_N and Dean Interface's utility function is U_I(B_I, P_I) + B_I + 2p^1/2_I.If Nightsoil's initial endowment is 6 bromides and 20 platitudes and if Interface's initial endowment is 2 bromides and 10 platitudes, then at any Pareto efficient allocation where both persons consume positive amounts of both goods,

• A)Nightsoil consumes the same ratio of bromides to platitudes as Interface.
• B)Interface consumes 6 platitudes.
• C)Interface consumes 4 bromides
• D)Interface consumes 4 bromides.
• E)Interface consumes 2 platitudes.

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Definitions:

Probability Level

A statistical measure that indicates the likelihood of a particular outcome or event occurring.

Quality

The degree to which a product, service, or process is free from defects, deficiencies, and significant variations, measured against agreed standards or specifications.

Degree of Freedom

In statistics, it refers to the number of values in the final calculation of a statistic that are free to vary.

Group Means

The average values obtained from the data points of each group or category under examination in a study.