If the Prices of X and Y Are $2 and $4

question 194

Multiple Choice

If the prices of X and Y are $2 and $4 per unit, respectively, and this consumer has $10 in income to spend, to maximize total utility, this consumer should buy

• A)1 unit of X and 1 unit of Y.
• B)2 units of X and 2 units of Y.
• C)1 unit of X and 2 units of Y.
• D)5 units of X and no units of Y.

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Definitions:

Social Group

A collection of individuals who interact with one another, share similar characteristics, and collectively have a sense of unity.

Lactovegetarian

A diet that includes dairy products in addition to plant-based foods, but excludes meat and eggs.

Veganism

A lifestyle and diet that excludes all animal products and by-products, often motivated by health, ethical, or environmental reasons.

Strictest

Pertaining to the most rigid, exacting, or severe in expectation or requirement.