Suppose Good X Is on the Horizontal Axis, Good Y

question 127

Multiple Choice

Suppose good X is on the horizontal axis, good Y is on the vertical axis, and the slope of an individual's budget line is -2. Which of the following is true?​

• A)​Good Y is twice as expensive as good X.
• B)​The consumer gives up two units of good Y for each unit of good X she purchases.
• C)​The opportunity cost of good X is one half of a unit of good Y.
• D)​All of the above are correct.

Analyze the concept of chemical equilibrium and its biological significance.

Explain the importance of ATP as an energy currency in the cell, including its production and hydrolysis.

Understand the legal concept of contract capacity, including the ability to enter into contracts and the implications of lacking this capacity.

Recognize the age of majority for contracting as established by law and its relevance in contract formation.

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Definitions:

Net Income

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Dividends

Disbursements from a corporation to individuals holding its stock, serving as their share of the earnings.

Ending Equity

The value of an owner's interest in a property or a business at the end of an accounting period after all debts have been subtracted.

Retained Earnings

A portion of company profits not paid out as dividends but reinvested in the business, used for debt payment, or saved as cash reserves.