- Use the Indifference Curves and the Budget Lines in Figure

question 36

Multiple Choice

- Use the indifference curves and the budget lines in Figure 19.3 to answer the indicated question.Assume the price of Y is $1 per unit.In Figure 19.3,given an income of $30 and a price for good Y of $1,which of the following two points represent optimal consumption?

• A)A when the price of X is $3 and C when the price of X is $1.
• B)B when the price of X is $1 and D when the price of X is $3.
• C)A when the price of X is $1 and D when the price of X is $3.

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Definitions:

Bagels

A type of bread product originating from the Jewish communities of Poland, known for its dense, chewy texture and a distinctive hole in the center.

Pizzas

A popular Italian dish consisting of a round, flattened base of leavened wheat-based dough topped with tomatoes, cheese, and various other ingredients.

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Property Tax

A levy on property that the owner is required to pay, typically based on the value of the property, and used by municipalities to fund public services and infrastructures.