-The Table Above Gives the Utility from Pens and Pencils

question 124

Multiple Choice

-The table above gives the utility from pens and pencils. If pens and pencils both cost $.25 each and the consumer has an income of $2.25, which of the following combinations maximizes the consumer's utility?

• A) 3 pens and 6 pencils
• B) 4 pens and 5 pencils
• C) 5 pens and 4 pencils
• D) 6 pens and 3 pencils

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Definitions:

Outputs Relative

The concept of comparing the productivity, efficiency, or performance outcomes of an entity to another or to a set standard.

Cost of Inputs

The total expenses incurred to acquire resources necessary for the production of goods or services.

Tech IQ

A measure of an individual's ability to understand, utilize, and adapt to technology effectively.

Task Accomplishment

The successful completion or achievement of a specific task, action, or job as defined by predetermined standards or objectives.