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    Managerial Economics Study Set 1
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    Exam 5: Theory of Consumer Behavior
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    Refer to the Following Graph
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Refer to the Following Graph

Question 59

Question 59

Multiple Choice

Refer to the following graph:
The price of X is $20 and the price of Y is $40.
Refer to the following graph: The price of X is $20 and the price of Y is $40.    -If U<sub>1</sub> is the highest level of utility the consumer can achieve, what is the consumer's income? A)  $ 480 B)  $ 600 C)  $ 800 D)  $1,200 E)  none of the above
-If U1 is the highest level of utility the consumer can achieve, what is the consumer's income?


A) $ 480
B) $ 600
C) $ 800
D) $1,200
E) none of the above

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