Assume That a Consumer Has a Given Budget or Income

question 157

Multiple Choice

Assume that a consumer has a given budget or income of $12 and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. If the consumer spent all of her budget on just apples or just bananas, how many apples or bananas maximum would she be able to buy?

• A) 12 apples or 8 bananas
• B) 8 apples or 12 bananas
• C) 16 apples or 12 bananas
• D) 8 apples or 16 bananas

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