Figure 21-25 the Figure Pertains to a Particular Consumer

question 500

Multiple Choice

Figure 21-25 The figure pertains to a particular consumer. On the axes, X represents the quantity of good X and Y represents the quantity of good Y.
-Refer to Figure 21-25. Suppose the price of good X is $15, the price of good Y is $10, and the consumer's income is $450. Then the consumer's optimal choice is to buy

• A)6 units of good X and 36 units of good Y.
• B)12 units of good X and 27 units of good Y.
• C)20 units of good X and 15 units of good Y.
• D)26 units of good X and 6 units of good Y.

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Definitions:

Professional Corporation

A business entity formed by licensed professionals, such as lawyers or doctors, allowing them to provide their services through a corporate structure.

Sole Proprietorship

A form of business owned and operated by one person who is solely responsible for all its operations and debts.

Attorneys

Licensed professionals who are authorized to practice law, representing and advising clients in legal matters.

Associate Attorney

An attorney working for a law firm who is not a partner and does not have an ownership interest in the firm. Associates are usually less experienced attorneys and may be invited to become partners after working for the firm for several years.