Consumer's Income = $12 Refer to the Data

question 71

Multiple Choice

Consumer's income = $12 $$\begin{array}{l}\begin{array} { c c c c } \begin{array} { c } \\\text { Units of } \\\text { Product }\\\hline\end{array} & \begin{array} { c } \\\text { Marginal Utility, X } \\( \text { Price } = \$ 1 ) \\\hline\end{array} & \begin{array} { c } \\\text { Marginal Utility, Y } \\( \text { Price } = \$ 1 ) \\\hline\end{array} & \begin{array} { c } \text { Marginal Utility, }\\\text { New Product, Z } \\( \text { Price } = \$ 1 ) \\\hline\end{array} \\ \text { First } & 12 & 16 & 20 \\\text { Second } & 10 & 14 & 18 \\\text { Third } & 8 & 12 & 16 \\\text { Fourth } & 6 & 10 & 14 \\\text { Fifth } & 4 & 8 & 12 \\\text { Sixth } & 2 & 6 & 10 \\\text { Seventh } & 0 & 4 & 8\end{array}\end{array}$$ Refer to the data.Suppose the price of new product Z is $10 rather than $1.This consumer would purchase:

• A) some of Z but not as much as if the price were $1.
• B) none of Z.
• C) less of X,Y,and Z than if the price were $1.
• D) more of X,Y,and Z than if the price were $1.

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Definitions:

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Pollution Abatement

Measures and actions taken to reduce, control, or eliminate pollution from a specific source.

Marginal Benefit

The enhancement in satisfaction or utility that comes from acquiring or making an additional unit of a product or service.

Pollution Control

The implementation of measures to reduce or eliminate the emission of pollutants into the environment.