For Questions Assume That an Individual Consumes Two Goods

question 36

Multiple Choice

For questions assume that an individual consumes two goods X and Y. The total utility (assumed measurable) of each good is independent of the rate of consumption of other goods. The prices of X and Y are, respectively, $5 and $10.

$\begin{array}{lcc}\text { Units of the Good } & \text { TotalUtility of } X & \text { Total Utility of } Y \\1 & 50 & 400 \\2 & 95 & 750 \\3 & 135 & 950 \\4 & 170 & 1100 \\5 & 200 & 1220 \\6 & 225 & 1320 \\7 & 245 & 1400 \\8 & 260 & 1450\end{array}$
-If the consumer has $110 to spend on X and Y, which combination will the consumer choose?

• A) 5X and 4Y
• B) 6X and 8Y
• C) 7X and 6Y
• D) 8X and 7Y
• E) 7X and 7Y

---

Definitions:

Cooler Colors

Colors that are perceived as calming and soothing, typically including blues, greens, and purples, often associated with water, sky, or foliage.

Circular Reference

A circular reference occurs when a formula in a spreadsheet or database refers back to its own cell, either directly or through a chain of references, which can cause errors in calculations.

Spell-checking

is the process of identifying and correcting spelling errors in text using a software program or tool.

Order of Operations

A set of rules defining the sequence in which operations should be performed in expressions, including arithmetic and logical expressions.