Cindy's Utility Function for BMWs and Money Is Given by 19,000x

question 13

Multiple Choice

Cindy's utility function for BMWs and money is given by 19,000x + y, where x is the number of BMWs she has and y is the amount of money she has.Her income is $24,000.Her reservation price for one BMW is

• A)$19,000.
• B)$19,000 - y.
• C)$5,000.
• D)$19,000 - p.
• E)$43,000.

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Definitions:

Clay

A natural, earthy material composed of fine-grained minerals, often used in pottery, bricks, and sculpture, known for its plasticity when moist.

Gymnosperms

A group of seed-producing plants that includes conifers, cycads, Ginkgo, and gnetophytes, characterized by their naked seeds not enclosed in an ovary.

Angiosperms

A large group of plants characterized by having flowers and producing seeds enclosed within a fruit.

Xylem

Complex vascular tissue of plants; cell walls of its dead tracheids and vessel elements form tubes that distribute water and mineral ions through the plant body.