Suppose the Price of Is $20,the Price of Is $10,and

question 12

Multiple Choice

Suppose the price of is $20,the price of is $10,and that the consumer is currently spending all available income.At the consumer's current consumption basket the marginal utility of is 8 and the marginal utility of is 4.

• A) The consumer is currently maximizing utility.
• B) The consumer could increase utility by consuming more of good and less of good
• C) The consumer could increase utility by consuming more of good and less of good .
• D) Nothing can be said about the consumer's utility because we do not know the consumer's income or utility function.

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Definitions:

Environmental Justice

The movement aimed at ensuring that no community suffers from disproportionate exposure to pollution, environmental hazards, and lack of access to natural resources, emphasizing fairness and equity.

Anthropocentric

Viewing and interpreting everything in terms of human values and experiences.

Land Ethic

A philosophical approach advocating for a respectful and ethical relationship between humans and the natural environment, emphasizing stewardship and sustainability.

New Ecological Paradigm

A belief system that recognizes humans as an integral part of the ecosystem and emphasizes sustainable environmental practices.