Refer to the Data for a Utility-Maximizing Consumer Whose Income

question 115

Multiple Choice

Refer to the data for a utility-maximizing consumer whose income = $12. Assume that new product Z doesn't exist. How many units of X and Y will this consumer buy, given his or her $12 budget?

• A)5 of X and 7 of Y
• B)7 of X and 5 of Y
• C)6 of X and 6 of Y
• D)5 of X and 6 of Y

---

Definitions:

Relevant

Being closely connected or appropriate to the matter at hand.

Authoritative

Describes a commanding and self-confident approach; often considered respected and having expertise in a particular area.

Unbiased

Having no prejudice or favoritism towards someone or something, ensuring fairness.

Citing Sources

Citing sources is the practice of acknowledging and giving credit to the original authors of the information used in one's work.