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Question 332

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Use the following to answer questions: Use the following to answer questions:   -(Table: Consumer Equilibrium)  Look at the table Consumer Equilibrium. Assume that the price of good X is $5 per unit, the price of good Y is $1 per unit, and you have $10 to spend on both goods. To maximize utility, you would consume _____ unit(s)  of X and _____ unit(s)  of Y. A)  no; 1 B)  1; 5 C)  4; 6 D)  5; 5
-(Table: Consumer Equilibrium) Look at the table Consumer Equilibrium. Assume that the price of good X is $5 per unit, the price of good Y is $1 per unit, and you have $10 to spend on both goods. To maximize utility, you would consume _____ unit(s) of X and _____ unit(s) of Y.


A) no; 1
B) 1; 5
C) 4; 6
D) 5; 5

Correct Answer:

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