Yoram Insists on Consuming 4 Times as Much of Y

question 34

Multiple Choice

Yoram insists on consuming 4 times as much of y as he consumes of x (so he always has y = 4x) .He will consume these goods in no other ratio.The price of x is 3 times the price of y.Yoram has an endowment of 20 x's and 45 y's which he can trade at the going prices.He has no other source of income.What is Yoram's gross demand for x?

• A)105
• B)65
• C)15
• D)12
• E)We can't determine the answer without knowing the price of x.

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Definitions:

Million Years

A time unit used in geology and astronomy to describe extremely long periods, typically used in the context of the age of the earth or the distance of cosmological objects.

Population

Members of a species that reside and reproduce with each other in a particular location.

Annual Grass

A type of grass that completes its entire life cycle from seed to death within one year.

Monocotyledones

Also known as monocots, a group of flowering plants characterized primarily by having one embryonic seed leaf.