Answer the Question Based on the Table Below Showing the Marginal

question 133

Multiple Choice

Answer the question based on the table below showing the marginal utility schedules for product X and product Y for a hypothetical consumer. The price of product X is $4, and the price of product Y is $2. The income of the consumer is $20.
When the consumer purchases the utility-maximizing combination of product X and product Y, total utility will be

• A) 72.
• B) 84.
• C) 136.
• D) 156.

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Definitions:

Cut Corners

To undertake actions in the easiest, quickest, or cheapest way, often by skipping necessary steps or violating rules.

Profit

The financial gain achieved when the amount earned from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Internal Locus of Control

The belief that one controls their own fate and outcomes are primarily the result of their own efforts.

Own Effort

The use of personal skills and labor to achieve a task or goal without external help.