A consumer has an income of $320 and the price of x is $5, while the price of good y is $12. In this case, if the consumer only purchases good x, she can buy _ units, but instead, if she only buys good y, then she can afford to buy _ units.

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Jofish647 Jofish647

21-01-2021
Business

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A consumer has an income of $320 and the price of x is $5, while the price of good y is $12. In this case, if the consumer only purchases good x, she can buy _ units, but instead, if she only buys good y, then she can afford to buy _ units.

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Answer:

If the consumer only purchases good x, she can buy 64 units, but instead, if she only buys good y, then she can afford to buy 26.67 units.

Explanation:

Given:

Income of the consumer = $320

Price of x = $5

Price of y = $12

Therefore, we have:

Units obtainable by purchasing x only = Income of the consumer / Price of x = $320 / $5 = 64

Unnits obtainable by purchasing y only = Income of the consumer / Price of y = $320 / $12 = 26.67

Therefore, if the consumer only purchases good x, she can buy 64 units, but instead, if she only buys good y, then she can afford to buy 26.67 units.

A consumer has an income of $320 and the price of x is $5, while the price of good y is $12. In this case, if the consumer only purchases good x, she can buy _____ units, but instead, if she only buys good y, then she can afford to buy _____ units.

Respuesta :

Otras preguntas

A consumer has an income of $320 and the price of x is $5, while the price of good y is $12. In this case, if the consumer only purchases good x, she can buy _ units, but instead, if she only buys good y, then she can afford to buy _ units.