Suppose the Price of a Pair of Shoes Is $20

question 86

Multiple Choice

Suppose the price of a pair of shoes is $20 and the price of a shirt is $10.Suppose further that a consumer can spend a maximum of $100 on shirts and shoes.Which of the following is the most affordable bundle for maximizing the consumer's utility?

• A)10 shirts and 5 pairs of shoes
• B)2 shirts and 4 pairs of shoes
• C)4 shirts and 2 pairs of shoes
• D)Only 4 pairs of shoes
• E)5 shirts and 10 pairs of shoes

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Definitions:

Meaning Transfer

The process by which cultural meanings are transferred to a product and from there to the consumer, playing a significant role in consumer behavior.

Advertising And Fashion Industries

Sectors focused on creating, promoting, and selling aesthetic, stylistic, and branding elements in products and media.

Popular Culture

The entirety of ideas, perspectives, attitudes, images, and other phenomena that are within the mainstream of a given culture, especially as circulated via mass media.

Fashion

A popular style or practice, especially in clothing, footwear, accessories, makeup, or behavior.