Which of the Following Functional Forms for Utility Suggests the Greatest

question 46

Multiple Choice

Which of the following functional forms for utility suggests the greatest substitution effect when starting at the point where $\mathrm { P } _ { \mathrm { X } } = \mathrm { P } _ { \mathrm { Y } }$

• A) \(\mathrm { U } = \min ( \mathrm { X } , \mathrm { Y } )\)
• B) \(U=X + X\)
• C) \(\mathrm { U } = \mathrm { X } ^ { 1 / 2 } \mathrm { Y } ^ { 1 / 2 }\)
• D)\(\mathrm { U } = \mathrm { X } ^ { 1 / 4 } \mathrm { Y } ^ { 3 / 4 }\)

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Definitions:

Play Behavior

Activities performed for self-amusement that have behavioral, social, and psychomotor benefits, often observed in children and young animals.

Strange Situation

A research method used in developmental psychology to assess attachment styles in children by observing their reactions when separated and reunited with their caregivers.

Attachment Style

Patterns of bonding that form between a child and caregiver, influencing emotional and social development and relationships later in life.

Infants

Young children, typically under one year of age, who are in the early stages of development.