The Table Shows the Marginal Utility Schedules for Old Product

question 126

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 $4, and the price of good Y is $3. The budget of the consumer is $18. What is the increase in total utility from the original situation when purchasing just X, compared to now when the consumer purchases the utility-maximizing combination of both X and Y?

• A)12
• B)22
• C)42
• D)64

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Definitions:

Genetic Differences

Variations in the DNA sequences among individuals, which contribute to the biological diversity of species, including humans.

Sociobiologists

Scientists who study the biological basis of all forms of social behavior, including in humans.

Evolutionarily Beneficial

Traits or behaviors that increase the chances of survival and reproduction, and are therefore more likely to be passed on to subsequent generations.

Dominant Males

Males who hold the highest rank within a social hierarchy, often having priority access to resources and mates.