Bundle J contains 10 units of good X and 5 units of good Y. Bundle K contains 5 units of good X and 10 units of good Y. Bundle L contains 10 units of good X and 10 units of good Y. Assume that the consumer's preferences satisfy the four properties of indifference curves. The price of X is $1, the price of Y is $2, and the consumer has an income of $20. Which bundle will the consumer choose?
A)Bundle J
B)Bundle K
C)Bundle L
D)Either bundle J or bundle K

Question

Quizplus · Accepted Answer

The Answer of Bundle J contains 10 units of good X and 5 units of good Y. Bundle K contains 5 units of good X and 10 units of good Y. Bundle L contains 10 units of good X and 10 units of good Y. Assume that the consumer's preferences satisfy the four properties of indifference curves. The price of X is $1, the price of Y is $2, and the consumer has an income of $20. Which bundle will the consumer choose?
A)Bundle J
B)Bundle K
C)Bundle L
D)Either bundle J or bundle K

Bundle J Contains 10 Units of Good X and 5