Suppose a consumer has an income equal to I which he/she spends on either food or clothing.The price of food is given by P_f and the price of clothing is given by P_c.If the consumer spends all of his/her income on clothing,the expression for the number of units of clothing he/she buys is

Question

Quizplus · Accepted Answer

The expression for the number of units of clothing he/she buys is given by (Number of units of clothing) = (Total income ÷ Price of clothing) As the consumer is spending all of his/her income on clothing, the total income is I. Therefore, the expression becomes (Number of units of clothing) = (I ÷ P_c) Hence, the correct choice is C.

Suppose a Consumer Has an Income Equal to I Which