Multiple Choice
Suppose the price of a pair of shoes is $20 and the price of a shirt is $10.Suppose further that a consumer can spend a maximum of $100 on shirts and shoes.Which of the following is the most affordable bundle for maximizing the consumer's utility?
A) 10 shirts and 5 pairs of shoes
B) 2 shirts and 4 pairs of shoes
C) 4 shirts and 2 pairs of shoes
D) Only 4 pairs of shoes
E) 5 shirts and 10 pairs of shoes
Correct Answer:
Verified
Correct Answer:
Verified
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