Assume that a consumer has a given budget or income of $12, and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. Refer to the information given above. If the consumer spent all of her budget on just apples or just bananas, how many apples or bananas maximum would she be able to buy?
A) 12 apples or 8 bananas
B) 8 apples or 12 bananas
C) 16 apples or 12 bananas
D) 8 apples or 16 bananas
Correct Answer:
Verified
Q53: Assume that a consumer spends a given
Q54: Assume that a consumer purchases only two
Q56: A budget line is a graph that
Q57: A point or product-combination to the left
Q59: The economizing problem for individuals is a
Q60: Suppose that a consumer purchases just two
Q61: One basic difference between "land" and "capital"
Q62: Which of the following is considered an
Q63: The economizing problem faced by a society
Q257: Which of the following is a normative
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents