Multiple Choice
Kitty's utility function for BMWs and money is given by 16,000x + y, where x is the number of BMWs she has and y is the amount of money she has.Her income is $23,000.Her reservation price for one BMW is
A) $16,000 - y.
B) $16,000 - p.
C) $16,000.
D) $7,000.
E) $39,000.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: Bernice has the utility function u(x, y)=
Q3: If Bernice (whose utility function is min{x,
Q4: Sir Plus has a demand function for
Q5: Betsy's utility function for BMWs and money
Q6: Betsy's utility function for BMWs and money
Q7: If Bernice (whose utility function is min{x,
Q8: Bernice has the utility function u(x,
Q9: Lolita's utility function is U(x, y)=x -
Q10: Desiree's utility function for BMWs and money
Q11: Sir Plus has a demand function