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Suppose a Consumer Has an Income Equal to I Which Pf\mathrm { P } _ { \mathrm { f } }

Question 12

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Suppose a consumer has an income equal to I which he/she spends on either food or clothing. The price of food is given by Pf\mathrm { P } _ { \mathrm { f } } and the price of clothing is given by Pc\mathrm { P } _ { \mathrm { c } } . If the consumer spends all of his/her income on clothing, the expression for the number of units of clothing he/she buys is:


A) I/Pf\mathrm { I } / \mathbf { P } _ { \mathrm { f } }
B) IxPcI x P _ { c }
C) I/Pc\mathrm { I } / \mathrm { P } _ { \mathrm { c } }
D) I\mathrm { I }

Correct Answer:

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