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Given a budget constraint (or income) of $40, use the below table to find when a consumer would be in "consumer equilibrium". Like the example on Canvas (& the textbook), we assume there are only two goods, X and Y. The price of X is $6 per unit and the price of Y is $4 per unit. Explain your answer; that is, why have you concluded that--given your answer--the consumer is in equilibrium? (Be sure to show how you got your answer) Units MUX MUy. 1 56 40 32 28 3 4 18 12 12 8 6 20 24

Given a budget constraint (or income) of $40, use the below table to find when a consumer would be in "consumer equilibrium". Like the example on Canvas (& the textbook), we assume there are only two goods, X and Y. The price of X is $6 per unit and the price of Y is $4 per unit. Explain your answer; that is, why have you concluded that--given your answer--the consumer is in equilibrium? (Be sure to show how you got your answer) Units MUX MUy. 1 56 40 32 28 3 4 18 12 12 8 6 20 24

Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 3SQP
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Given a budget constraint (or income) of $40, use the below table to find when a consumer would be in "consumer equilibrium". Like the example on Canvas (& the textbook), we assume there are only two goods, X and Y. The price of X is $6 per unit and the price of Y is $4 per unit. Explain your answer; that is, why have you concluded that--given your answer--the consumer is in equilibrium? (Be sure to show how you got your answer) Units MUX MUy 1 56 40 2 32 28 3 24 18 12 5 12 8. 8 20
Transcribed Image Text:Given a budget constraint (or income) of $40, use the below table to find when a consumer would be in "consumer equilibrium". Like the example on Canvas (& the textbook), we assume there are only two goods, X and Y. The price of X is $6 per unit and the price of Y is $4 per unit. Explain your answer; that is, why have you concluded that--given your answer--the consumer is in equilibrium? (Be sure to show how you got your answer) Units MUX MUy 1 56 40 2 32 28 3 24 18 12 5 12 8. 8 20
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