Figure 21-25 the Figure Pertains to a Particular Consumer

question 500

Multiple Choice

Figure 21-25 The figure pertains to a particular consumer. On the axes, X represents the quantity of good X and Y represents the quantity of good Y.
-Refer to Figure 21-25. Suppose the price of good X is $15, the price of good Y is $10, and the consumer's income is $450. Then the consumer's optimal choice is to buy

• A)6 units of good X and 36 units of good Y.
• B)12 units of good X and 27 units of good Y.
• C)20 units of good X and 15 units of good Y.
• D)26 units of good X and 6 units of good Y.

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Definitions:

Fashion Acceptance Cycle

The process by which new styles and trends are introduced, accepted, and eventually declined by the public, influencing the dynamics of the fashion industry.

Fashion Classic

An item of clothing or accessory that remains stylish and universally accepted over an extended period, transcending short-lived fashion trends.

Economic Models

Simplified frameworks used to describe the workings of the economy and to analyze economic variables and their relationships.

Trickle-up Theory

A theory suggesting that trends and innovations are initiated from the lower social classes and then adopted by the upper classes.