Multiple Choice
Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $6 and $2, respectively, and that the consumer's income is $22 How many units of the two products will the rational consumer purchase?
A) 3 of L and 3 of M
B) 4 of L and 2 of M
C) 2 of L and 4 of M
D) 2 of L and 5 of M
Correct Answer:

Verified
Correct Answer:
Verified
Q32: Someone who pays $800 to fly from
Q33: The lines on a topographical map are
Q34: A downward-sloping demand curve can be derived
Q35: A consumer who has a limited budget
Q36: A consumer is in equilibrium and is
Q38: Answer the question based on the table
Q39: The slope of a budget line reflects
Q40: If total utility increases as consumption of
Q41: Other things equal, an increase in the
Q42: In 2015 the federal government began requiring