Multiple Choice
Kate's money income is $250,the price of X is $3,and the price of Y is $2.Given these prices and income,Kate buys 60 units of X and 35 units of Y.Call this combination of X and Y bundle J.At bundle J,Kate's MRS is 3.At bundle J,if Kate increases consumption of Y by 1 unit,how many units of X must she give up in order to satisfy her budget constraint?
A) 3/2
B) 3
C) 2/3
D) 1
Correct Answer:
Verified
Correct Answer:
Verified
Q43: Explain what would happen to the equilibrium
Q44: The total earnings of a worker are
Q45: If a consumer is given a $10
Q46: If you were running an advertising campaign
Q47: Along the same indifference curve,MRS is _
Q49: The substitution effect reflects how a consumer
Q50: If the price of computers decreases,then the:<br>A)
Q51: If the price of a good Y
Q52: After a price decrease for good X,the
Q53: Which of the following is most likely