If the MU\P Ratio for Good X Is Less Than

question 128

Multiple Choice

If the MU\P ratio for good X is less than the MU\P ratio for good Y, this means that

• A)an individual is receiving more utility per dollar from good Y than good X.
• B)the price of good X is lower than the price of good Y.
• C)the price of good Y is lower than the price of good X.
• D)the MU of good X is lower than the MU of good Y.

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Definitions:

Extrinsic Motivation

A form of motivation driven by external rewards such as money, fame, grades, and praise, which encourages individuals to perform tasks.

Extrinsic Motivation

Motivation driven by external rewards, such as money, fame, grades, or praise.

Mundane Tasks

Routine, everyday activities that can be tedious but are necessary for the smooth operation of daily life or work.

Extrinsic Qualities

Characteristics or attributes that are not inherent or essential but are imposed from the outside or by external factors.