Refer to the data for a utility-maximizing consumer whose income = $12. Assume that new product Z doesn't exist. How many units of X and Y will this consumer buy, given his or her $12 budget?
A)5 of X and 7 of Y
B)7 of X and 5 of Y
C)6 of X and 6 of Y
D)5 of X and 6 of Y

Question

Refer to the data for a utility-maximizing consumer whose income = $12. Assume that new product Z doesn't exist. How many units of X and Y will this consumer buy, given his or her $12 budget?
A)5 of X and 7 of Y 
B)7 of X and 5 of Y 
C)6 of X and 6 of Y 
D)5 of X and 6 of Y

Quizplus · Accepted Answer

The Answer of  Refer to the data for a utility-maximizing consumer whose income = $12. Assume that new product Z doesn't exist. How many units of X and Y will this consumer buy, given his or her $12 budget?
A)5 of X and 7 of Y 
B)7 of X and 5 of Y 
C)6 of X and 6 of Y 
D)5 of X and 6 of Y

Refer to the Data for a Utility-Maximizing Consumer Whose Income