Suppose That the MU/P Ratio for Good X Is the Same

question 147

Multiple Choice

Suppose that the MU/P ratio for good X is the same as for good Y: 12 utils per dollar. If the price of good X then rises to $2 from $1, a consumer who seeks to maintain consumer equilibrium will buy more of good __________ until the marginal utility of that good falls to __________ utils.

• A)Y; 12
• B)Y; 24
• C)X; 12
• D)Y; there is not enough information to answer this part of the question
• E)X; there is not enough information to answer this part of the question

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Definitions:

Traits

Characteristic patterns of thoughts, feelings, or behaviors that are relatively stable over time and across situations.

Heredity

The transmission of genetic characteristics from parents to offspring through their genes.

Bone Growth

The process by which bones increase in size, which occurs through both the development and hardening of cartilage into bone (ossification) and the addition of bone tissue.

Nutrient

A constituent of food necessary for normal physiologic function.