[Solved] Questions 66 Through 68 Refer to the Following Indifference Map

Question 67
Multiple Choice

Questions 66 through 68 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 equal to $4: img -suppose the price of good X increases to $12 while the price of good Y remains $4. Utility will be maximized on which indifference curve?

A) I
B) II
C) III
D) On an indifference curve below I

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