(Table: Consumer Equilibrium) Look at the Table Consumer Equilibrium

question 420

Essay

(Table: Consumer Equilibrium) Look at the table Consumer Equilibrium.Assume that the price of both good X and good Y is $1 per unit and you have $7 of income to spend on both goods.To maximize utility, you would consume _____ _ units of X and _____ _ units of Y.
A.2; 5
B.3; 4
C.4; 3
D.5; 2

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Definitions:

Gross Profit

is the financial gain obtained after subtracting the cost of goods sold (COGS) from total revenue.

Sales Revenues

The income earned by a company from its sales of goods or the provision of services, before any costs or expenses are deducted.

Gross Profit Margin

A financial ratio that indicates the percentage of revenue that exceeds the cost of goods sold, reflecting the efficiency of a company in managing its production and labor costs.