Suppose That 25 Units of X and 16 Units of Y

question 29

Multiple Choice

Suppose that 25 units of X and 16 units of Y give a consumer the same satisfaction as 15 units of X and 18 units of Y.Then

• A)the consumer can exchange five units of X for one unit of Y and keep utility unchanged.
• B)the consumer can exchange one unit of X for 1/5 unit of Y and keep utility unchanged.
• C)the market rate of exchange of X for Y is 1/5.
• D)both a and b
• E)all of the above

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Definitions:

Maintenance Rehearsal

A cognitive strategy that involves repetitively reviewing information to retain it in short-term memory.

Repeating

The act of saying, writing, or doing something again, often for emphasis or to ensure understanding.

Short-term Memories

Refers to the part of the memory system that holds information for a brief period, typically seconds to minutes.

Prefrontal Lobes

The front part of the frontal lobes of the brain, implicated in a variety of complex behaviors, including planning, and greatly contributes to personality development.