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:

Negative Reinforcement

A behavioral psychology principle where the removal of an unfavorable outcome or stimulus strengthens a behavior or increases its likelihood of recurrence.

Unpleasant Events

Occurrences or situations that cause discomfort, distress, or unhappiness.

Behaviour Repeated

The act of performing the same action or behavior multiple times, which can lead to habit formation or learning.

Stimulus Generalization

The tendency for the conditioned response to be evoked by stimuli that are similar to the stimulus that was initially conditioned.