Refer to the Following Indifference Map for a Consumer Who

question 50

Multiple Choice

Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4: After the price of good X increases to $12 while the price of good Y remains $4,how many units of good X would be purchased?

• A)0
• B)2
• C)4
• D)8
• E)12