Bjorn Is a Student with a Monthly Budget of $500,which

question 42

Multiple Choice

Bjorn is a student with a monthly budget of $500,which he allocates between transportation services and "all other goods." Suppose the price of transportation is $5 per unit,and the price of "all other goods" is $20 per unit.The marginal utility he currently receives from his consumption of transportation services is 60.What is his marginal utility from the consumption of "all other goods" if he is maximizing his utility?

• A)5
• B)20
• C)25
• D)200
• E)240

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Definitions:

Industrial Unionism

A labor union organizing method where all workers in the same industry, regardless of their particular skills or trades, are organized into a single union.

Single Occupation

A career or job path focused on one particular area of expertise or profession.

Business Unionism

A model of labor relations where the main goal of the union is to secure better wages, hours, and working conditions, often through pragmatic dealings with employers.

Capitalist System

An economic system where private individuals own the means of production and operate for profit.