If the Consumer Is Willing to Give Up 3 Units

question 48

Multiple Choice

If the consumer is willing to give up 3 units of food (vertical axis) in exchange for one unit of shelter (horizontal axis) and food is priced at 10 and shelter at 20, then the consumer is purchasing

• A)too much food for utility maximization.
• B)too much shelter for utility maximization.
• C)just the right amount of each good for utility maximization.
• D)less than the budget would allow.

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Definitions:

Rings Of Saturn

The system of planetary rings surrounding Saturn, made up of ice particles, rocks, and dust.

Sand, Pebbles

Small, loose particles of rocks or minerals; pebbles are larger than sand grains but smaller than cobbles.

Bluish-Green

A color that is a blend of blue and green, often associated with certain minerals, plants, or shallow waters.

Methane

A colorless, odorless gas that is the simplest alkane and a potent greenhouse gas, often produced by anaerobic digestion of organic material.