Refer to Exhibit 4. Suppose that the consumer must choose between buying socks and belts. Also, suppose that the consumer's income is €100. If the price of a belt is €10 and the price of a pair of socks is €5, the consumer will choose to buy the commodity bundle represented by point?
A) Z
B) X
C) Y
D) the optimal point cannot be determined from this graph.

Question

Refer to Exhibit 4. Suppose that the consumer must choose between buying socks and belts. Also, suppose that the consumer's income is €100. If the price of a belt is €10 and the price of a pair of socks is €5, the consumer will choose to buy the commodity bundle represented by point? ​  ​
A) Z 
B) X 
C) Y 
D) the optimal point cannot be determined from this graph.

Quizplus · Accepted Answer

The Answer of Refer to Exhibit 4. Suppose that the consumer must choose between buying socks and belts. Also, suppose that the consumer's income is €100. If the price of a belt is €10 and the price of a pair of socks is €5, the consumer will choose to buy the commodity bundle represented by point? ​  ​
A) Z 
B) X 
C) Y 
D) the optimal point cannot be determined from this graph.