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:

Actual Cost

The true cost incurred to produce a good or deliver a service, including all direct and indirect expenses.

Cost Variances

Cost variances refer to the difference between the expected (budgeted) costs and the actual costs incurred during a specific period.

Management

The process of planning, organizing, leading, and controlling resources to achieve specific goals.

Exception

A deviation from the norm or a case that does not follow the general rule.