The maximum quantity of good Y that is affordable is: A) M/P_X. B) M/X. C) M/P_Y. D) M/Y.

Name: The maximum quantity of good Y that is affordable is: A) M/P X. B) M/X. C) M/P Y. D) M/Y.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The maximum quantity of good Y that is affordable can be calculated using the formula M/P_Y.. This is the maximum amount that can be spent on good Y given the budget constraint and the prices of good Y and good X. Therefore, option C is the correct choice.

The Maximum Quantity of Good Y That Is Affordable Is