Astrids Utility Function Is U(H A, C A)= H a C

question 37

Multiple Choice

Astrids utility function is U(H A, C A) = H A C A.Birgers utility function is min{H B, C B}.If Astrids initial endowment is no cheese and 11 units of herring and if Birgers initial endowments are 4 units of cheese and no herring, then where p is a competitive equilibrium price of herring and cheese is the numeraire, it must be that demand equals supply in the herring market.This implies that

• A)4/(p + 1)+ 6 = 12.
• B)4/12 = p.
• C)412/4 = p.
• D)4/p + 12/2p = 12.
• E)min{12, 4} = p.

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Definitions:

Environmental Punishment

A consequence resulting from the natural consequences of an action, rather than a direct intervention from another party.

Projective Measure

A psychological assessment technique where individuals reveal their unconscious thoughts and feelings through the interpretation of ambiguous stimuli.

Self-report Measure

A type of psychological assessment where individuals provide evaluative information about themselves, often in the form of questionnaires.

Unconscious Motivations

Drives and desires operating below the level of conscious awareness, influencing behavior and decision-making.