Abduls Utility Is U(X A, Y A)= Min{X A, Y

question 52

Multiple Choice

Abduls utility is U(X A, Y A) = min{X A, Y A}, where X A and Y A are his consumptions of goods X and Y respectively.Babettes utility function is U(X B, Y B) = X B Y B, where X B and Y B are her consumptions of goods X and Y.Abduls initial endowment is no units of Y and 5 units of X.Babettes initial endowment is no units of X and 11 units of Y.If X is the numeraire good and p is the price of good Y, then supply will equal demand in the market for Y if

• A)11/(p + 1)+ 2.50 = 11.
• B)5/(p + 1)+ 5.50 = 11.
• C)11/5 = p.
• D)min{5, 11} + 5/2p = 11.
• E)min{5, 11} + 11/2p = 11.

---

Definitions:

Content Validity

The extent to which a test measures all aspects of the concept it intends to measure.

Material Representation

The physical embodiment or manifestation of ideas, concepts, or information.

Reliability

A measure of consistency over time or across different raters.

Standard Deviation

A statistical measure that quantifies the variation or dispersion of a set of data points.