The Table Shows the Marginal Utility Schedules for Old Product

question 94

Multiple Choice

The table shows the marginal utility schedules for old product X and new product Y for a hypothetical consumer. The price of X is $3, and the price of good Y is $2. The budget of the consumer is $15. If the consumer buys both old product X and new product Y, how much will the consumer buy of each to maximize utility?

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

Recognize conservation strategies and programs designed to save species from extinction.

Identify the significant challenges faced by biodiversity due to climate change, including global warming and ocean acidification.

Understand the relationship between human activities, particularly overexploitation and habitat degradation, and the decline of biodiversity.

Comprehend the legal and scientific efforts to conserve biodiversity on a global scale and recognize the interconnectedness of economic, ethical, and aesthetic values of biodiversity.

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Definitions:

Arrangement

The act of organizing or arranging components or elements according to a specific plan or design.

Cognitive Revolution

The cognitive revolution is a period in the 20th century marked by a shift in psychology from a behaviorist approach to an emphasis on mental processes and how they affect behavior.

Behaviourism

A theory of learning based on the idea that all behaviors are acquired through conditioning.

Introspection

The practice of self-examining one's mental and emotional states.