-Use the above figure. The optimal position for the consumer is at
A) J or L.
B) M.
C) K.
D) N.

Name: -Use the above figure. The optimal position for the consumer is at A) J or L. B) M. C) K. D) N.
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Question

-Use the above figure. The optimal position for the consumer is at
A) J or L. 
B) M. 
C) K. 
D) N.

Quizplus · Accepted Answer

The optimal position for a consumer is where the highest possible indifference curve is tangent to the budget line, which is at point K in this scenario. This point represents the highest level of utility that the consumer can achieve given their budget constraint.

-Use the Above Figure