FIGURE 6-2 -Refer to Figure 6-2.Suppose the Price of X Is $2,the

question 57

Multiple Choice

FIGURE 6-2
-Refer to Figure 6-2.Suppose the price of X is $2,the price of Y is $1,and the consumer's income is $10.The consumer is currently buying 4 units of good X and 2 units of good Y.In order to maximize his utility,he should

• A)make no changes - he is already maximizing his total utility.
• B)buy the same amount of X but less Y.
• C)buy more of X but the same amount Y.
• D)buy more of X and less Y.
• E)buy more Y and less X.

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Definitions:

Future Business

Operations, activities, or engagements that a company plans to undertake in coming periods to increase its profitability and growth.

Current Assets

Resources anticipated to be turned into cash, sold, or used up within a timeframe of one year or during the usual business cycle if it extends beyond a year.

Office Supplies

Items used in offices for daily operations, including paper, pens, and staplers.

Cash

Liquid assets held by a company or an individual, used for the purpose of transactions or as a means to settle debts.