Refer to the data for a utility-maximizing consumer whose income = $4. Assume that new product Z doesn't exist. How many units of X and Y will this consumer buy, given his or her $4 budget?
A)1 of X and 3 of Y
B)3 of X and 1 of Y
C)2 of X and 2 of Y
D)0 of X and 4 of Y

Question

Refer to the data for a utility-maximizing consumer whose income = $4. Assume that new product Z doesn't exist. How many units of X and Y will this consumer buy, given his or her $4 budget?
A)1 of X and 3 of Y 
B)3 of X and 1 of Y 
C)2 of X and 2 of Y 
D)0 of X and 4 of Y

Quizplus · Accepted Answer

The Answer of  Refer to the data for a utility-maximizing consumer whose income = $4. Assume that new product Z doesn't exist. How many units of X and Y will this consumer buy, given his or her $4 budget?
A)1 of X and 3 of Y 
B)3 of X and 1 of Y 
C)2 of X and 2 of Y 
D)0 of X and 4 of Y

Refer to the Data for a Utility-Maximizing Consumer Whose Income