Suppose the Price of Good $x$ Is $\$ 5$ And the Price of Good

question 67

Multiple Choice

Suppose the price of good $x$ is $\$ 5$ and the price of good $y$ is $\$ 7$ . Also, suppose $M U _ { x } = y$ and $M U _ { y } = x$ . Which of the following baskets could be an interior optimum?

• A) \(x = 5 , y = 7\)
• B) \(x = 4 , y = 6\)
• C) \(x = 7 , y = 5\)
• D) \(x = 6 , y = 4\)

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Definitions:

Conditioned Response

In behavioral psychology, the learned response to a previously neutral stimulus that has become conditioned.

Aboriginal Quota

A policy or practice aimed at ensuring a certain percentage or number of positions are reserved for indigenous people, in contexts such as education or employment.

Naveen

A common male given name in South Asia, meaning "new" in Sanskrit.

Group Membership

The affiliation or association with specific groups or communities, which can influence individual identity and behavior.