The Following Figure Shows a Portion of a Consumer's Indifference

question 58

Multiple Choice

The following figure shows a portion of a consumer's indifference map and budget lines.The price of good Y is $17 and the consumer's income is $7,650.Let the consumer begin in utility-maximizing equilibrium at point A on indifference curve II.Next the price of good X changes so that the consumer moves to a new utility-maximizing equilibrium at point B on indifference curve I.Which of the following points are points on this consumer's demand curve?

• A)P_x = $8.50 and Q_x = 200
• B)P_x = $8.50 and Q_x = 300
• C)P_x = $25.50 and Q_x = 200
• D)P_x = $25.50 and Q_x = 300
• E)both b and c are points on demand

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