Refer to the Following Table to Answer the Following Questions

question 74

Multiple Choice

Refer to the following table to answer the following questions:

-Assume that strawberries cost $1 and apples cost $2.If a consumer has $16,the bundle of goods that would maximize his utility per dollar and remain within his budget would be

• A) 2 strawberries and 7 apples.
• B) 6 strawberries and 5 apples.
• C) 4 strawberries and 6 apples.
• D) 4 strawberries and 2 apples.
• E) 7 strawberries and 7 apples.

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Definitions:

Trade Discount

A reduction in the listed price of a good or service offered by a vendor to buyers in the same trade.

Retail Price

The total cost at which an item is sold to the consumer, including all applicable taxes and fees.

Textbooks

Books used as a standard work for the study of a particular subject.

S&P/TSX Composite Index

A stock market index in Canada that measures the performance of the largest companies on the Toronto Stock Exchange (TSX).