The Table Shows the Marginal Utility Schedules for Old Product

question 139

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 $2, and the price of good Y is $1. The budget of the consumer is $10. When the consumer purchases the utility-maximizing combination of old product X and new product Y, total utility will be

• A)62.
• B)78.
• C)70.
• D)82.

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Definitions:

Product Innovation

The development and market introduction of a new or significantly improved good or service, with enhanced features or capabilities.

Feasibility Planning

The process of analyzing and evaluating the potential of a proposed project or business to determine if it is technically, financially, and legally possible.

Initial Experimentation

The first phase of testing or trial in the process of research or development, where theories or hypotheses are explored to gather early insights.

Organic Structure

An organizational design that is flexible and decentralized, with a focus on employee empowerment and informal communication networks.