The price of X is $20 and the price of Y is $40.
-According to the following graph,at point B, The consumer's income is $1,200.
A)the rate at which the consumer is willing to substitute X for Y is greater than it is at point A.
B)the consumer is willing to give up more Y in order to gain an extra unit of X than at point A.
C)the consumer will receive more Y for each unit of X exchanged in the market than at point A.
D)both a and b
E)all of the above

Question

The price of X is $20 and the price of Y is $40. 
-According to the following graph,at point B,  The consumer's income is $1,200.
A)the rate at which the consumer is willing to substitute X for Y is greater than it is at point A. 
B)the consumer is willing to give up more Y in order to gain an extra unit of X than at point A. 
C)the consumer will receive more Y for each unit of X exchanged in the market than at point A. 
D)both a and b 
E)all of the above

Quizplus · Accepted Answer

The Answer of The price of X is $20 and the price of Y is $40. 
-According to the following graph,at point B,  The consumer's income is $1,200.
A)the rate at which the consumer is willing to substitute X for Y is greater than it is at point A. 
B)the consumer is willing to give up more Y in order to gain an extra unit of X than at point A. 
C)the consumer will receive more Y for each unit of X exchanged in the market than at point A. 
D)both a and b 
E)all of the above

The Price of X Is $20 and the Price of Y