Assume That the Unit Price of Good a Is $3

question 72

Multiple Choice

Assume that the unit price of good A is $3, and the unit price of good B is $5. If an individual has income of $43, which consumption bundles of (good A, good B) is on the edge of the budget constraint?

• A) (5,5)
• B) (5,4)
• C) (6,4)
• D) (6,5)

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Definitions:

Lock

A mechanism for controlling access, ensuring security by preventing or limiting access to a location or object.

Moral Hazard

A situation where one party in a contract can take risks because they know they will not have to bear the full consequences of their actions.

Health Insurance

A contract between an individual and an insurer to cover part or all of the costs associated with medical care.

Poor Eating Habits

Unhealthy dietary practices that often lead to malnutrition, obesity, and increased risk of chronic diseases.