Lolita's Utility Function Is U(x, Y)=x - X²/2 + Y

question 9

Multiple Choice

Lolita's utility function is U(x, y) =x - x²/2 + y, where x is her consumption of cow feed and y is her consumption of hay.If the price of cow feed is $.30, the price of hay is $1, and her income is $2 and if Lolita chooses the combination of hay and cow feed that she likes best from among those combinations she can afford, her utility will be

• A)2.24.
• B)1.70.
• C)0.24.
• D)3.24.
• E)1.24.

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Definitions:

Metacarpophalangeal (MCP) Joints

The joints in the hand where the bones of the palm (metacarpals) meet the bones of the fingers (phalanges), facilitating movement.

Lower Jawbone

Also known as the mandible, it is the largest bone in the human jaw and supports the lower teeth.

Occipital Bone

A cranial bone located at the back and lower part of the skull, important for head and brain structure and protection.

Bone Cells

Specialized cells that make up bone tissue, responsible for the creation, maintenance, and repair of bone.