Exhibit 6-6 Marginal Utility for Data for Clothes and Amusement

question 34

Multiple Choice

Exhibit 6-6 Marginal utility for data for clothes and amusement

Refer to Exhibit 6-6. Clothes and amusements are priced at $10 each. If you had a budget of $50, which of the following combinations of goods would you buy?

• A) 4 units of clothes and 1 unit of amusement.
• B) 3 units of clothes and 2 units of amusement.
• C) 2 units of clothes and 3 units of amusement.
• D) 1 unit of clothes and 4 units of amusement.

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Definitions:

Product Placement

A marketing strategy that involves placing branded products or advertisements within the content of media.

Brand Popularity

Brand popularity refers to the widespread recognition and positive perception of a brand among consumers, often resulting in increased loyalty and sales.

Early Majority

A segment of the population that adopts new products or innovations after the initial group of early adopters, characterized by a more pragmatic approach to adoption.

Early Adopter

An individual who adopts new technology or innovations early in its life cycle, often influencing others in their social or professional circles.