Justin Consumes Goods X and Y and Has a Utility

question 61

Multiple Choice

Justin consumes goods x and y and has a utility function U(x, y) =x² + y.The price per unit of x is p_x and the price per unit of y is p_y.He has enough money so that he can afford at least 1 unit of either good.When he chooses his best affordable bundle,

• A)his budget line must be tangent to the indifference curve passing through this bundle.
• B)he must consume only x.
• C)he must consume only y if p²_x / p_y exceeds his income.
• D)he must consume some of each good if p_x =p_y.
• E)he must consume some of each good if p_y = p_x /2.

Understand how counters interact with PLC programming instructions (e.g., RES instruction).

Distinguish between the Count Up (CU) and Count Down (CD) operations in counters.

Recognize and interpret the significance of key parameters in counter instructions (e.g., Preset, Accum).

Describe how counter values are maintained or reset based on rung conditions.

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Definitions:

Ethical Implications

Considerations related to the morality of actions or decisions, especially regarding their impact on people and the environment.

Defined Contribution Plans

Retirement plans where the amount contributed to the plan is defined, but the payout at retirement is based on investment performance.

Defined Benefit Plan

A type of pension plan where an employer guarantees a specific retirement benefit amount to employees based on salary history and years of service.

401(k) Plan

A retirement savings plan sponsored by an employer which allows employees to save and invest a portion of their paycheck before taxes are taken out.