If a Consumer Is at an Optimum, Consuming X and Y

question 185

Multiple Choice

If a consumer is at an optimum, consuming X and Y, and the price of Y increases, then to get to a new equilibrium the consumer must

• A) purchase less X.
• B) purchase less of both X and Y.
• C) purchase more X.
• D) purchase more of both X and Y.

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Definitions:

Comparative Negligence

A legal doctrine that reduces the claimant's damages award proportionate to their degree of fault in causing the harm or loss.

Product Misuse

Product misuse occurs when a consumer uses a product in a way not intended by the manufacturer, potentially resulting in harm or damage.

Product Liability

The area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause.

Safety Gear

Equipment or clothing designed to protect individuals from injury or harm, especially in hazardous work environments or activities.