Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18 How many units of the two products will the rational consumer purchase?
A) 3 of L and none of M
B) 4 of L and 2 of M
C) 3 of L and 5 of M
D) 2 of L and 3 of M

Question

Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18  How many units of the two products will the rational consumer purchase?
A) 3 of L and none of M 
B) 4 of L and 2 of M 
C) 3 of L and 5 of M 
D) 2 of L and 3 of M

Quizplus · Accepted Answer

The Answer of Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18  How many units of the two products will the rational consumer purchase?
A) 3 of L and none of M 
B) 4 of L and 2 of M 
C) 3 of L and 5 of M 
D) 2 of L and 3 of M

Answer the Question on the Basis of the Following Total