Given That Income Is $300,the Price of Good Y Is

question 99

Multiple Choice

Given that income is $300,the price of good Y is $15,and the price of good X is $20,what is the vertical intercept of the budget line?

• A) 4,500
• B) 300
• C) 20
• D) 15

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Definitions:

CFCs

Chlorofluorocarbons; chemical compounds used in aerosol sprays and refrigerants that have been found to deplete the ozone layer.

Adverse Selection

A situation in which one party in a transaction has more information than the other, often leading to the selection of poorer-quality goods or higher-risk individuals.

Seller Ratings

Evaluations or scores given to sellers on e-commerce platforms, based on the quality of their products, shipping speed, and customer service.

Moral Hazard

A situation where one party is more likely to take risks because another party bears the cost of those risks, often seen in insurance and financial sectors.