A Consumer Maximizes His Utility by Purchasing 2 Units of Good

question 99

Multiple Choice

A consumer maximizes his utility by purchasing 2 units of good X at $5 per unit and 3 units of good Y at $7 per unit.What is the ratio of the marginal utility from X to the marginal utility from Y?

• A)5/7
• B)7/5
• C)2/3
• D)3/2
• E)10/21

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Definitions:

Collection Agency

A business that pursues payments of debts owed by individuals or businesses.

Overdue Account

An account that has not been paid by the due date, often subject to late fees and penalties.

Invoice

A document issued by a seller to a buyer that lists goods or services provided, their prices, and the total amount owed.

Ledger Statement

A comprehensive record that captures all financial transactions of a business or individual, categorized into accounts.