The following figure shows a portion of a consumer's indifference map and budget lines. The price of good Y is $17 and the consumer's income is $7,650.
Let the consumer begin in utility-maximizing equilibrium at point A on indifference curve II. Next the price of good X changes so that the consumer moves to a new utility-maximizing equilibrium at point B on indifference curve I.
-Two points on this consumer's demand for good X are P_X= $_________ and X = _________; and P_X = $_________ and X = _________.

Question

The following figure shows a portion of a consumer's indifference map and budget lines. The price of good Y is $17 and the consumer's income is $7,650.

Let the consumer begin in utility-maximizing equilibrium at point A on indifference curve II. Next the price of good X changes so that the consumer moves to a new utility-maximizing equilibrium at point B on indifference curve I.
-Two points on this consumer's demand for good X are P_X= $_________ and X = _________; and P_X = $_________ and X = _________.

Quizplus · Accepted Answer

The Answer of The following figure shows a portion of a consumer's indifference map and budget lines. The price of good Y is $17 and the consumer's income is $7,650. Let the consumer begin in utility-maximizing equilibrium at point A on indifference curve II. Next the price of good X changes so that the consumer moves to a new utility-maximizing equilibrium at point B on indifference curve I. -Two points on this consumer's demand for good X are P_X= $_________ and X = _________; and P_X = $_________ and X = _________.

The Following Figure Shows a Portion of a Consumer's Indifference