The Table Below Shows the Total Utility Associated with Various

question 104

Multiple Choice

The table below shows the total utility associated with various units of goods X and Y.Table 7.5

-The demand curve for a product can be derived from consumer equilibrium by:

• A)altering the prices of all other products.
• B)altering consumer incomes.
• C)shifting consumer preferences.
• D)altering the price of the good itself.
• E)knowing the demand curves for all other products.

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Definitions:

Amount Owing

The total sum of money that is due to be paid.

Operating Expense

An ongoing expense incurred in the operation of a business, such as rent, utilities, and salaries.

Operating Profit

Earnings before interest and taxes, calculated by subtracting operating expenses from gross profit.

Mark-up

The difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.