Suppose That Paul and David Have Utility Functions U

question 5

Multiple Choice

Suppose that Paul and David have utility functions U = 5A_P + O_P and U = A_D + 3O_D, respectively, where A_P and O_P are Paul's consumptions of apples and oranges and A_D and O_D are David's consumptions of apples and oranges.The total supply of apples and oranges to be divided between them is 16 apples and 14 oranges.The "fair" allocations consist of all allocations satisfying

• A)5A_P + O_P is at least 94 and 2A_D + 3O_D is at least 58.
• B)A_D = A_P and O_D + O_P.
• C)A_D + O_D is at least 15 and A_S + O_S is at least 15.
• D)10A_P + 2O_P is at least 94 and 2A_D + 6O_D is at least 58.
• E)5A_P + O_P is at least A_D + 3O_D and A_D + 3O_D is at least 5A_P + O_P.

Understand the process of closing the dividend account and its impact on the retained earnings.

Understand the process and purpose of preparing an adjusted trial balance.

Identify the role and composition of a worksheet in accounting.

Know how to close accounts, including income summary and dividends, at the end of the fiscal year.

---

Definitions:

Visual System

The visual system is the part of the central nervous system that enables organisms to process visual detail, including the eyes, optic nerves, and brain regions involved in visual perception.

Absolute Threshold

The minimum intensity of a stimulus that one can detect half the time.

Psychological Dimension

An aspect of an individual's mental or emotional state that influences their behavior and perception of the world.

Specialized Brain Cells

Neurons or glial cells in the brain that have specific functions, such as sensory processing, signal transmission, or support of neural activity.