Question
Suppose that 4 units of X and 8 units of Y give a consumer the same satisfaction as 6 units of X and 4 units
Suppose that 4 units of X and 8 units of Y give a consumer the same satisfaction as 6 units of X and 4 units of Y. Then:
A.the consumer can exchange 1 unit of X for 2 units of Y and utility is unchanged.
B.the consumer can exchange 1 unit of X for unit of Y and utility is unchanged.
C.the market rate of exchange of X for Y is .
D.both a and c
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Managerial Economics And Financial Analysis
Authors: M.S. Bhat, A.V. Rau
1st Edition
9352300211, 978-9352300211
