Examlex

Solved

Use the Following to Answer Questions

question 16

Multiple Choice

Use the following to answer questions: Use the following to answer questions:   -(Table: Consumer Equilibrium)  Look at the table Consumer Equilibrium. Assume that the price of both goods is $1 per unit, that you consume three units of good X and three units of good Y, and that you are spending all of your income. To maximize utility, assuming that the goods are divisible, you would consume _____ of X and _____ of Y. A)  less; less B)  more; more C)  less; more D)  more; less
-(Table: Consumer Equilibrium) Look at the table Consumer Equilibrium. Assume that the price of both goods is $1 per unit, that you consume three units of good X and three units of good Y, and that you are spending all of your income. To maximize utility, assuming that the goods are divisible, you would consume _____ of X and _____ of Y.


Definitions:

Related Questions