Suppose That the Utility Function for Two Goods X and Y

question 60

Multiple Choice

Suppose that the utility function for two goods X and Y is given by , and a consumer purchases 2 units of X and 6 units of Y. If the consumer purchases 2 units of Y, how many units of X must be purchased to retain the same level of utility? ​

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Definitions:

Reinforcement Schedule

A strategy in behavioral psychology that determines how and when a response will be rewarded to encourage certain behavior.

Socializing Agent

Individuals, groups, or institutions that play a significant role in integrating people into society by teaching social norms, values, and beliefs.

Effectiveness

The degree to which something is successful in producing a desired result; efficiency.

Punishment

A painful or discomforting stimulus that reduces the frequency with which the target behavior occurs.