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20. Consider the model of consumer's choice shown in Figure 6, below. Suppose that the consumer's income is £48, and the prices of goods x and y are £6 and £24, respectively. What is the consumer's optimal consumption bundle? a) Bundle A. b) Bundle B c) Bundle C. d) Bundle D. Bundle E. e) Figure 6 2 3 11 IC1 IC2 IC3

20. Consider the model of consumer's choice shown in Figure 6, below. Suppose that the consumer's income is £48, and the prices of goods x and y are £6 and £24, respectively. What is the consumer's optimal consumption bundle? a) Bundle A. b) Bundle B c) Bundle C. d) Bundle D. Bundle E. e) Figure 6 2 3 11 IC1 IC2 IC3

Microeconomics A Contemporary Intro
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 13PAE
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20. Consider the model of consumer's choice shown in Figure 6, below. Suppose that the consumer's income is £48, and the prices of goods x and y are £6 and £24, respectively. What is the consumer's optimal consumption bundle? a) Bundle A. b) Bundle B c) Bundle C. d) Bundle D. e) Bundle E. Figure 6 M 1 B 2 3 E 6 11 IC1 IC2 IC3 9
Transcribed Image Text:20. Consider the model of consumer's choice shown in Figure 6, below. Suppose that the consumer's income is £48, and the prices of goods x and y are £6 and £24, respectively. What is the consumer's optimal consumption bundle? a) Bundle A. b) Bundle B c) Bundle C. d) Bundle D. e) Bundle E. Figure 6 M 1 B 2 3 E 6 11 IC1 IC2 IC3 9
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