Multiple Choice
The X-intercept of the budget constraint represents
A) how much of good Y can be purchased if no good X is purchased and all income is spent.
B) how much of good X can be purchased if no good Y is purchased and all income is spent.
C) total income divided by the price of X.
D) a and c.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q2: As an individual moves northwest along his
Q2: If a person's indifference curves can be
Q5: If the government imposes a law requiring
Q8: Suppose a little girl likes peanut butter
Q10: Suppose a teenager likes both rap music
Q11: If an individual has a constant MRS
Q11: Suppose a teenager has $20 and likes
Q17: Suppose that at current consumption levels an
Q21: If bundles of goods A and B
Q24: If people like their goods in fixed