A Consumer Is in Equilibrium and Is Spending Income in Such

question 36

Multiple Choice

A consumer is in equilibrium and is spending income in such a way that the marginal utility of product X is 40 units and that of Y is 16 units. If the unit price of X is $5, then the price of Y must be

• A)$1 per unit.
• B)$2 per unit.
• C)$3 per unit.
• D)$4 per unit.

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Definitions:

Sentinel-controlled

A loop control mechanism where the loop repeats until a specific value (sentinel) is encountered.

Endless Loop

An endless loop is a programming error or condition where a loop repeats indefinitely due to its terminating condition never being met, potentially causing the program to freeze.

Executes

Refers to the process of running or carrying out a command, program, or action by a computer.

Java Code

The set of instructions, definitions, and syntax written in the Java programming language to create applications and software components.