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Refer to the Diagram, Where Xy Is the Relevant Budget

Question 66

Multiple Choice

  Refer to the diagram, where xy is the relevant budget line and I₁, I₂, and I₃ are indifference curves. If the consumer is initially at point L, he or she should A) strive for point N by obtaining a larger money income. B) purchase more of X and less of Y. C) remain at that point to maximize utility. D) purchase more of Y and less of X. Refer to the diagram, where xy is the relevant budget line and I₁, I₂, and I₃ are indifference curves. If the consumer is initially at point L, he or she should


A) strive for point N by obtaining a larger money income.
B) purchase more of X and less of Y.
C) remain at that point to maximize utility.
D) purchase more of Y and less of X.

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