A consumer has the indifference map shown below. The market prices of X and Y are $20 and $12, respectively. The consumer has $1,000 to spend on goods X and Y. The utility-maximizing bundle is Multiple Choice   40 units of good X and 10 units of good Y.   10 units of good X and 40 units of good Y.   20 units of good X and 18 units of good Y.   50 units of good X and 0 units of good Y.   None of the choices are correct

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A consumer has the indifference map shown below. The market prices of X and Y are $20 and $12, respectively. The consumer has $1,000 to spend on goods X and Y. The utility-maximizing bundle is

Multiple Choice

 

40 units of good X and 10 units of good Y.

 

10 units of good X and 40 units of good Y.

 

20 units of good X and 18 units of good Y.

 

50 units of good X and 0 units of good Y.

 

None of the choices are correct.

 

Good Y
50
40
30
18
0
10
20
30
Good X
11
50
Transcribed Image Text:Good Y 50 40 30 18 0 10 20 30 Good X 11 50
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