If the Marginal Rate of Substitution of X for Y

question 73

Multiple Choice

If the marginal rate of substitution of X for Y is 2,the price of X is $3,and the price of Y is $1,a utility-maximizing consumer should

• A)be indifferent between 1X and 2Y.
• B)prefer 3Y to 1X.
• C)choose less X and more Y.
• D)choose more X and less Y.

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Definitions:

Actual Parameters

The actual values or expressions passed to a function or method when it is called, as opposed to the formal parameters defined in the method signature.

Modifier

A keyword in programming languages that you use to specify the properties of an attribute, method, or class, such as public, private, or static.

Specify

To specify means to identify something clearly and explicitly.

Outside A Class

Refers to code or functions that are defined or executed outside of a class definition in object-oriented programming.