Refer to the graph below: Units of good Y 30 14 0 A 24 B U₂ 40 Units of good X The price of X is $30 and the price of Y is $60. If U₁ is the highest level of utility the consumer can achieve, what is the consumer's income?

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
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Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 5WNG
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Refer to the graph below:
Units of good Y
30
0
A
24
B
40
Units of good X
X
The price of X is $30 and the price of Y is $60. If U₁1 is the highest level of utility the consumer can achieve, what is the consumer's income?
Transcribed Image Text:Refer to the graph below: Units of good Y 30 0 A 24 B 40 Units of good X X The price of X is $30 and the price of Y is $60. If U₁1 is the highest level of utility the consumer can achieve, what is the consumer's income?
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