Multiple Choice
if Charlie's utility function were X 5A XB, if apples cost 70 cents each, and if bananas cost 10 cents each, Charlie's budget line would be tangent to one of his indifference curves whenever
A) 5XB = 7XA.
B) XB = XA.
C) XA = 5XB.
D) XB = 5XA.
E) 70XA + 10XB = M.
Correct Answer:
Verified
Correct Answer:
Verified
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