The Figure Below Shows a Consumer Maximizing Utility at Two

question 38

Multiple Choice

The figure below shows a consumer maximizing utility at two different prices (the left panel) and the consumer's demand for good X at the same two prices of good X (the right panel) .The price of good Y is $4.50.What is the consumer's income?

• A)$250
• B)$280
• C)$320
• D)$360
• E)$400

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Definitions:

Reaganomics

The economic policies of U.S. President Ronald Reagan, characterized by tax cuts, decreased social spending, increased military spending, and deregulation of domestic markets.

Historical Significance

The importance attributed to a past event, person, or development in history, often because it had a considerable impact on later events or cultural understandings.

Equal Rights Amendment

A proposed amendment to the United States Constitution aimed at guaranteeing equal legal rights for all American citizens regardless of sex, highlighting the issue of gender equality.

Disability Activists

Individuals or groups advocating for the rights and inclusion of people with disabilities in all areas of society.