Exam 2: A Theory of Preferences

arrow
  • Select Tags
search iconSearch Question
flashcardsStudy Flashcards
  • Select Tags

Sheila has preferences represented by the utility function U (x, y)= 8x + 4y. She consumes 12 units of good x and 3 units of good y. If her consumption of good x is lowered to 10, how many units of y must she have in order to be exactly as well off as before?

(Multiple Choice)
4.9/5
(38)

Given the utility function U(x1,x2)= min(x1,x2), the marginal rate of substitution when x1 equals X2 is:

(Multiple Choice)
4.7/5
(46)

Which of the following is a psychological assumption?

(Multiple Choice)
5.0/5
(38)
Showing 101 - 103 of 103
close modal

Filters

  • Essay(0)
  • Multiple Choice(0)
  • Short Answer(0)
  • True False(0)
  • Matching(0)