Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4: After the price of good X increases to $12 while the price of good Y remains $4,how many units of good X would be purchased?
A)0
B)2
C)4
D)8
E)12

Question

Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4:  After the price of good X increases to $12 while the price of good Y remains $4,how many units of good X would be purchased?
A)0 
B)2 
C)4 
D)8 
E)12

Quizplus · Accepted Answer

The Answer of Refer to the following indifference map for a consumer who has an income of $48 to spend on goods X and Y and the market prices of X and Y are both $4:  After the price of good X increases to $12 while the price of good Y remains $4,how many units of good X would be purchased?
A)0 
B)2 
C)4 
D)8 
E)12

Refer to the Following Indifference Map for a Consumer Who