Assume a consumer purchases a combination of goods X and Y such that MUx / Px = 20 units of utility per dollar and MUy / Py = 10 units of utility per dollar. To maximize utility, the consumers should buy:
A. less of X and more of Y.
B. less of both X and Y.
C. more of both X and Y.
D. more of X and less of Y.
Answer: D
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A) the demand for computers decreases. B) the demand for computers increases. C) the supply of computers increases. D) the supply of computers decreases.
Refer to the scenario above. The interest earned on the sum deposited is:
A) $300. B) $1,000. C) $1,300. D) $2,300.
The European Union started out as a
A. regional trade agreement. B. union of nations with identical tariffs. C. union of nations where the same language was spoken. D. union of nations with identical currency.
_____ is a property which distinguishes corporations from proprietorships and partnerships
a. Unlimited liability b. Division of labor c. Separation of ownership and management d. Centralized management and control