If Utility Is Given by U(x,y)= Min (X,3y)then the Bundle

question 7

Multiple Choice

If utility is given by U(x,y) = Min (x,3y) then the bundle (3,2) provides the same utility as the bundle

• A)(1,3).
• B)(2,3).
• C)(4,1).
• D)(4,2).

---

Definitions:

Stratification Theories

Theories that explain the layered or hierarchical organization of society into different social groups or classes, often focusing on issues of inequality and social mobility.

Middle Adulthood

Middle adulthood is a stage of life typically covering the ages of 40 to 65, characterized by stability, career satisfaction, and stronger focus on personal relationships.

Race Crossover

A demographic phenomenon where the mortality rates of African Americans surpass those of Whites at a certain age.

SES (Socioeconomic Status)

A measure of an individual's or family's economic and social position relative to others, based on income, education, and occupation.