Figure 5-1 shows the preferences of a consumer for food and other goods.He is initially in equilibrium at point A where the budget line MN is tangent to the indifference curve.
Figure 5-1
-In Figure 5-1,the total outlay on food after the excise subsidy is given by _____.
A)KC
B)0G
C)0H
D)0J

Question

Figure 5-1 shows the preferences of a consumer for food and other goods.He is initially in equilibrium at point A where the budget line MN is tangent to the indifference curve.
Figure 5-1 
-In Figure 5-1,the total outlay on food after the excise subsidy is given by _____.
A)KC 
B)0G 
C)0H 
D)0J

Quizplus · Accepted Answer

The Answer of Figure 5-1 shows the preferences of a consumer for food and other goods.He is initially in equilibrium at point A where the budget line MN is tangent to the indifference curve.
Figure 5-1 
-In Figure 5-1,the total outlay on food after the excise subsidy is given by _____.
A)KC 
B)0G 
C)0H 
D)0J

Figure 5-1 Shows the Preferences of a Consumer for Food