The Table Shown Describes the Different Combinations of Goods That

question 129

Multiple Choice

The table shown describes the different combinations of goods that Jack can consume, given that he has $10 to spend on these two items.

What is the total utility Jack will receive if he consumes bundle D?

• A)1,160
• B)1,300
• C)950
• D)2,220

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Definitions:

Normative Statement

A value judgment about what ought to be, expressing opinions or assertions that cannot be tested or verified.

Positive Statement

An objective statement based on factual evidence that can be tested and validated, often describing what is, rather than what ought to be.

Microeconomics

A branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, borrowers and lenders.

Macroeconomics

The branch of economics that studies the behavior and performance of an economy as a whole, focusing on aggregate changes in the economy such as GDP and unemployment.