QUESTION 3 A consumer has $300 to spend on meat (good x) and vegetables (good y) per month. The price of meat is Py=$6 and the price of vegetables is Py=$2 per unit. We conclude that the slope of this consumer's budget line (with good x plotted in the horizontal axis of the diagram) is .. O -1/3 -3 150 O 50 QUESTION 4 When there is a corner solution (for instance, with perfect substitute goods), the optimal choice ... O is to buy only the good that provides the highest bang-for-the buck. is to spend the entire budget on the good that has the lowest price per unit. O is to not buy any of the goods.
QUESTION 3 A consumer has $300 to spend on meat (good x) and vegetables (good y) per month. The price of meat is Py=$6 and the price of vegetables is Py=$2 per unit. We conclude that the slope of this consumer's budget line (with good x plotted in the horizontal axis of the diagram) is .. O -1/3 -3 150 O 50 QUESTION 4 When there is a corner solution (for instance, with perfect substitute goods), the optimal choice ... O is to buy only the good that provides the highest bang-for-the buck. is to spend the entire budget on the good that has the lowest price per unit. O is to not buy any of the goods.
Chapter1: Introducing The Economic Way Of Thinking
Section1.A: Applying Graphs To Economics
Problem 2SQP
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