Tyrell Is Consuming X and Y So That He Is

question 76

Multiple Choice

Tyrell is consuming X and Y so that he is spending his entire income and MU_x/P_x = 7 and MU_y/P_y = 7. To maximize utility, he should consume

• A) the same amount of X and Y since he is already maximizing utility.
• B) less of both X and Y.
• C) more X and less Y.
• D) less X and more Y.

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Definitions:

Discouraged

Feeling a lack of confidence or enthusiasm, often as a result of perceived obstacles or failure.

Encouraged

Motivated or inspired to proceed, act, or feel confident in doing something.

Individualistic

Characterized by the prioritization of personal goals and autonomy over group goals and cohesion.

Personality Traits

Enduring characteristics or qualities of an individual that influence behaviors, emotions, and thoughts across various situations.