Multiple Choice
Answer the question on the basis of the following marginal utility data for products X and Y. Assume that the prices of X and Y are $4 and $2, respectively, and that the consumer's income is $18. If the price of X decreases to $2, then the utility-maximizing combination of the two products is
A) 2 of X and 5 of Y.
B) 4 of X and 6 of Y.
C) 6 of X and 3 of Y.
D) 4 of X and 5 of Y.
Correct Answer:

Verified
Correct Answer:
Verified
Q71: A leftward shift of a consumer's budget
Q195: Marginal utility is total utility divided by
Q201: Suppose you have a limited money income
Q202: You can drive from Kansas City to
Q206: If total utility is increasing, marginal utility
Q209: The table below shows the utility schedule
Q210: Refer to the budget line shown in
Q212: A product has utility if it<br>A)takes more
Q304: Increases in product prices shift the consumer's<br>A)budget
Q337: The utility from a specific product is<br>A)determined