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Imagine that two goods are available to you: cars (X) and bikes (Y).You like cars 200 times more than bikes.If your transportation budget is $20,000

Imagine that two goods are available to you: cars (X) and bikes (Y).You like cars 200 times more than bikes.If your transportation budget is $20,000 per decade, the price of cars is $20,000 per unit per decade, and the price of bikes is $150 per unit per decade, what is your optimal consumption of cars?

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Alvin's preferences for good X and good Y are shown in the diagram below. Good Y GoodX Figure 3.2 Based on Figure 3.2, it can be inferred that: 0 Alvin does not consider good X as "good." 0 Alvin will never purchase any of good Y. 0 Alvin regards good X and good Y as perfect complements. 0 Alvin regards good X and good Y as perfect substitutes. 0 none of the above

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