Mitchell's money income is $150,the price of X is $2,and the price of Y is $2.Given these prices and income,Mitchell buys 50 units of X and 25 units of Y.Call this combination of X and Y bundle J.At bundle J,Mitchell's MRS is 2.Given these prices and income,what is Mitchell's equilibrium consumption of X?
A) X < 50
B) X = 50
C) X > 50
D) None of the preceding statements is correct.
Correct Answer:
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