Gina is at a toy store and is buying toy T-Rex's (x), which cost pe, and toy yaks (y),which cost py. Her income is I. She likes 3 T-Rex's as much as she likes 4 yaks. Thesetoys are perfect substitutes for her. What of the following can represent Gina's utility function?u(x, y) = x³ + y²u(x, y) = 4x + 3yu(x, y) =X.○ u(x, y) = x+y+34y

Gina is consuming the two goods x and y with the preference as She likes 3 T-Rex's as much she…

Answered: What of the following can represent…

What of the following can represent Gina's utility function? u(x, y) = x³ + y² u(x, y) = 4x + 3y u(x, y) =X. ○ u(x, y) = x+y+ 34 y

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Gina is at a toy store and is buying toy T-Rex's (x), which cost pe, and toy yaks (y),
which cost py. Her income is I. She likes 3 T-Rex's as much as she likes 4 yaks. These
toys are perfect substitutes for her.

What of the following can represent Gina's utility function?
u(x, y) = x³ + y²
u(x, y) = 4x + 3y
u(x, y) =X.
○ u(x, y) = x+y+
34
y

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