Refer to the Figure Below A)4; 3
B)3; 4
C)4; 4
D)4; 1

question 106

Multiple Choice

Refer to the figure below. If the price of a t-shirt is $6 and the price of a sweater is $80, then the rational spending rule is satisfied when the consumer purchases _____ t-shirts and ______ sweaters. $$\begin{array} { | c | c | c | } \hline \text { Units } & \begin{array} { c } \text { Utils Per Year } \\\text { from T-shirts }\end{array} & \begin{array} { c } \text { Utils Per Year } \\\text { from Sweaters }\end{array} \\\hline 0 & 0 & 0 \\\hline 1 & 75 & 400 \\\hline 2 & 135 & 720 \\\hline 3 & 180 & 960 \\\hline 4 & 210 & 1120 \\\hline\end{array}$$

• A)4; 3
• B)3; 4
• C)4; 4
• D)4; 1

Understand the importance of the sensitive period in acquiring language and other cognitive skills.

Understand the concept of profit maximization for firms in perfectly competitive markets.

Analyze how changes in market demand affect individual farmers' production decisions and market outcomes.

Determine the effect of income changes on market demand and firm-level output in perfectly competitive markets.

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Definitions:

American Freedom

The set of rights, principles, and practices that define the liberty and democracy of the United States.

Westward Expansion

The 19th-century movement of settlers into the American West, encouraged by the belief in Manifest Destiny and the search for land, wealth, and freedom.

Obstacles to Freedom

Various barriers, whether legal, social, economic, or political, that inhibit individuals or groups from achieving full freedom or liberties.

Free Blacks

Refers to African Americans who were not enslaved before the Emancipation Proclamation and the end of the Civil War in the United States.