Answer the Question Based on the Table Below Showing the Marginal

question 197

Multiple Choice

Answer the question based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4, and the price of product Y is $2. The income of the consumer is $20. If the consumer buys both product X and product Y, how much will the consumer buy of each in order to maximize utility?

• A)4X and 2Y
• B)3X and 4Y
• C)4X and 3Y
• D)5X and 3Y

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Definitions:

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, and environment.

Creative Deployment

The strategic and innovative utilization of resources, ideas, or personnel to achieve specific goals or solve problems in novel ways.

Positive Self-Regard

Describes an individual's overall subjective emotional evaluation of their own worth, characterized by attitudes of respect and acceptance towards oneself.

Management By Exception

A leadership style where the manager intervenes to correct problems or meet standards only when deviations from expected performance occur.