Given a Set Amount of Money, Goods a and B

question 75

Multiple Choice

Given a set amount of money, goods A and B both give the same marginal utility at current levels of consumption but good A costs twice as much as good B. You should:

• A) consume more of good A and less of good B.
• B) consume more of good B and less of good A.
• C) keep consuming the current amounts of both good A and good B.
• D) realize that you don't have enough information to answer the question.

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Definitions:

Thermocouple

A sensor used for measuring temperature, made from two different conductors that generate a voltage, proportional to a temperature difference.

Turbine Flow Meter

A turbine flow meter is a device used to measure the flow rate of a fluid within a pipe, utilizing a turbine that rotates with the flow of the fluid.

Strain Gauge Load Cell

A strain gauge load cell is a device used to measure force or load by converting the deformation (strain) of a material into an electrical signal.