If a Consumer Is at an Optimum, Consuming X and Y

question 28

Multiple Choice

If a consumer is at an optimum, consuming X and Y, and the price of X increases, then to get to a new equilibrium the consumer must

• A) purchase less X.
• B) purchase less Y.
• C) purchase more X.
• D) purchase more of both X and Y.

---

Definitions:

Time Lag

The delay between the initiation of an action or process and its effect or outcome.

Standardized Test

A test in which an individual’s score is compared to the scores of a group of similar individuals.

Correlational Coefficient

A statistical measure that indicates the extent to which two or more variables fluctuate together.

Random Assignment

A method used in research to distribute participants randomly across various experimental groups to ensure each group is similar at the start of the experiment.