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Suppose that there are two goods, X and Y, facing a consumer. The prices are Px = Rs. 4 and Py = Rs. 5. He has Rs. 110 to spend on these goods. Suppose, he is currently buying 15 units of good X (with marginal utility equal to 40) and 10 units of good Y (with marginal utility equal to 45).
In the above context, which one of the following statements is correct?

Suppose that there are two goods, X and Y, facing a consumer. The prices are Px = Rs. 4 and Py = Rs. 5. He has Rs. 110 to spend on these goods. Suppose, he is currently buying 15 units of good X (with marginal utility equal to 40) and 10 units of good Y (with marginal utility equal to 45).
In the above context, which one of the following statements is correct? Correct Answer His total utility is being maximized subject to the budget constraint he is facing

Related Questions

Which of the following are not the assumptions related to the theory of consumer behaviour as per the cardinal utility approach?
1. Rational consumer
2. Unlimited money income
3. Utility cardinally measurable
4. Diminishing marginal utility of money
5. Constant marginal utility of commodities
6. Maximisation of satisfaction
7. Utility is additive
A statement is given below in the question followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Statement: Hindustan Unilever and Nestlé plan to selectively increase prices of their products to take into account higher crude oil and petrol costs, the rupee’s depreciation against the dollar and more expensive commodities such as wheat. If crude remains where it is and if the rupee has depreciated, of course, there are headwinds as far as costs are concerned. I. Nestlé India’s logistics providers are looking to renegotiate rates after record-high petrol and diesel prices. Nestlé declined to comment on when and by how much prices would increase.  II. Nestlé commented that HUL had dropped prices in November after the Goods & Services Tax was introduced last year and an increase in prices now would likely not hurt consumers.  III. Petrol prices have crossed Rs 90 a litre in Mumbai on increasing global prices of crude oil, of which India is a net importer, further impacted by the falling rupee. Crude derivatives, which are key inputs for FMCG companies, and petroleum derivatives used in packaging material including bottles and tubes, have also become more expensive.
An operating system uses the Banker’s algorithm for deadlock avoidance when managing the allocation of three resource types X, Y, and Z to three processes P0, P1, and P2. The table given below presents the current system state. Here, the Allocation matrix shows the current number of resources of each type allocated to each process and the Max matrix shows the maximum number of resources of each type required by each process during its execution.   Allocation Max   X Y Z X Y Z P0 0 0 1 8 4 3 P1 3 2 0 6 2 0 P2 2 1 1 3 3 3   There are 3 units of type X, 2 units of type Y and 2 units of type Z still available. The system is currently in a safe state. Consider the following independent requests for additional resources in the current state: REQ1: P0 requests 0 units of X, 0 units of Y and 2 units of Z REQ2: P1 requests 2 units of X, 0 units of Y and 0 units of Z Which one of the following is TRUE?
When labour is plotted on X-axis and capital is plotted on Y-axis and an iso-quant is prepared, then which of the following statements is/are false ? (a) Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant. (b) Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour. (c) Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.
Consider four processes P, Q, R, and S scheduled on a CPU as per round-robin algorithm with a time quantum of 4 units. The processes arrive in the order P, Q, R, S, all at time t = 0. There is exactly one context switch from S to Q, exactly one context switch from R to Q, and exactly two context switches from Q to R. There is no context switch from S to P. Switching to a ready process after the termination of another process is also considered a context switch. Which one of the following is NOT possible as CPU burst time (in time units) of these processes?  
When labour is plotted on X-axis and capital is plotted on Y-axis and an isoquant is prepared, then which of the following statement(s) is/arefalse?
1. Marginal rate of technical substitution of labour for capital is equal to the slope of the iso-quant.
2. Marginal rate of technical substitution of labour for capital is equal to change in the units of capital divided by the change in the units of labour.
3. Marginal rate of technical substitution of labour for capital is the ratio of marginal productivity of capital to marginal productivity of labour.
Ajay, Lalit, Charan, Dhruv and Gajendra are five men, who are sitting in a row facing south while Mayuri, Narmada, Shalini, Priya and Harshini are five women, who are facing north in the second row parallel to the first row. Sitting facing up. Lalit, who is sitting immediately left of Dhruv, is facing Harshini. Charan and Narmada are sitting diagonally facing each other. Gajendra is facing Shalini, who is sitting on the immediate right of Mayuri in the neighborhood. Priya, who is sitting immediately left of Harshini, is facing Dhruv. Mayuri is sitting at one end of the row. Who is sitting third to the right of Shalini?
Use the following passage for the questions based on it. There are 6 flats on a floor in two rows. Out of these, three are north facing and the other three are south facing flats. The flats are to be allotted amongst Arun, Biswajyot, Chitra, Derek, Evan, and Fatima. Biswajyot gets a north facing flat and is not next to Derek. Derek and Fatima get diagonally opposite flats. Chitra is next to Fatima, and gets a south facing flat.Evan gets a north facing flat. Which of the following combination gets south facing flats?
Six offices on a floor are allotted to A, B, C, D, E and F, respectively. The offices are arranged in two rows, one facing the north and the other facing the south. B got a north-facing office and is not next to D. D and F got diagonally opposite offices. C, whose office is next to F, got a south-facing office, and E got a north-facing office. Which of the following combinations got south-facing offices?
Two statements are given followed by two conclusions as responses. You have to consider the statements to be true even if they seem to be at variance from the commonly known facts. You have to decide which of the given conclusion(s) can definitely be drawn from the given statements. Statements: The recent trend towards enjoying songs that have raps has led to only these songs topping the charts. The song which is currently topping the charts is very different from the other songs that usually top the charts. Conclusions: The song which is currently topping the charts is about a taboo subject.        II.The song which is currently topping the charts does not have a rap.