Assume MUX = 30 utils, MUY = 15 utils, PX = $2, and PY = $0.50 . This consumer:
a. should buy less of X and less of Y.
b. is in equilibrium.
c. should buy more of X and less of Y.
d. should buy less of X and more of Y.
e. should buy more of X and more of Y.
d
Economics
You might also like to view...
As prices in Zimbabwe began to rise:
A. Mugabe was able to pay bribes with the new money and then started the process of reducing inflation. B. people immediately lost faith in the Zimbabwean dollar, causing its value to plummet to zero. C. people updated their inflation expectations so that future increases in the money supply were impossible. D. the government had to print even more money to continue to buy just as many goods as it did before.
Economics
Which of the following is an example of representative money?
(A) An IOU note (B) Gold earrings (C) A fur coat (D) Diamonds
Economics