Multiple Choice
A consumer is in equilibrium and is spending income in such a way that the marginal utility of product X is 40 units and that of Y is 16 units. If the unit price of X is $5, then the price of Y must be
A) $1 per unit.
B) $2 per unit.
C) $3 per unit.
D) $4 per unit.
Correct Answer:
Verified
Correct Answer:
Verified
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