Multiple Choice
Use the indifference curves and the budget lines in Figure 19.3 to answer the indicated question. Assume the price of Y is $1 per unit. In Figure 19.3, given an income of $30 and a price for good Y of $1, which of the following two points represent optimal consumption?
A) A when the price of X is $3 and C when the price of X is $1.
B) B when the price of X is $1 and D when the price of X is $3.
C) A when the price of X is $1 and D when the price of X is $3.
D) B when the price of X is $1 and C when the price of X is $3.
Correct Answer:
Verified
Correct Answer:
Verified
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