The price of good X is $5 and the price of good Y is $15. If the marginal utility of good X is 20 then the marginal utility of good Y must be ________ to have an optimum combination of goods purchased

A) 4
B) 20
C) 60
D) 80


Answer: C

Economics

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The above figure represents the market for teenage workers at fast-food restaurants in Kansas City

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Economics

In Figure 15-2 above, the difference between consumption levels at point A and point B is equal to

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Economics

Which of the following correctly describes the marginal propensity to consume?

a. The change in savings divided by the change in consumption. b. The change in consumption spending divided by the change in disposable income. c. The change in real disposable income divided by the change in consumption. d. The change in savings divided by the change in disposable income.

Economics

All of the following are true about electronic funds transfers except:

A. sometimes involve the Federal Reserve sending electronic images of checks to banks. B. include automated clearinghouse transactions (ACH). C. include credit card payments made online. D. occur when banks or individuals deposit/withdraw from one bank account to another electronically.

Economics