Multiple Choice
For questions assume that an individual consumes two goods X and Y. The total utility (assumed measurable) of each good is independent of the rate of consumption of other goods. The prices of X and Y are, respectively, $5 and $10.
-If the consumer has $65 to spend on X and Y, the utility-maximizing bundle is
A) 3X and 5Y.
B) 4X and 4Y.
C) 5X and 2Y.
D) 1X and 6Y.
E) 2X and 7Y.
Correct Answer:

Verified
Correct Answer:
Verified
Q52: Refer to the following graph:<br>The price of
Q53: An indifference curve is drawn on a
Q54: <br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2558/.jpg" alt="
Q55: The rate at which a consumer is
Q56: A market demand curve<br>A) is the horizontal
Q58: Lord Greystroke uses his limited income to
Q59: Refer to the following graph:<br>The price of
Q60: Refer to the following graph:<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2558/.jpg"
Q61: If the marginal rate of substitution of
Q70: Which of the following assumptions is(are)NOT made