Suppose the price of X is $15 per unit, the price of Y is $12 per unit, the consumer's income is $100, and the consumer's level of satisfaction is measured by XY + Y. The consumer's constraint is
A) X + Y ≤ 100
B) max XY
C) 15X + 12Y ≤ 100
D) Max XY + Y

Question

Quizplus · Accepted Answer

The consumer's budget constraint is determined by the prices of goods X and Y and the consumer's income. The constraint is 15X + 12Y ≤ 100, where 15 and 12 are the prices of X and Y, respectively, and 100 is the consumer's income.

Suppose the Price of X Is $15 Per Unit, the Price