A community for students.
Here's the question you clicked on:
 0 viewing
sub
 2 years ago
when the price of X is 3 and the price of Y is 3,an individual consumes a bundle of x=4,Y=4.when the price of X has become 1 and the price of Y 5,the individual chooses a bundle of X=3,Y=5.therefore,the consumer prefers (3,5) over (4,4).true or false,explain..
sub
 2 years ago
when the price of X is 3 and the price of Y is 3,an individual consumes a bundle of x=4,Y=4.when the price of X has become 1 and the price of Y 5,the individual chooses a bundle of X=3,Y=5.therefore,the consumer prefers (3,5) over (4,4).true or false,explain..

This Question is Closed

FlyingChineseBoy
 2 years ago
Best ResponseYou've already chosen the best response.0I think the question may be wrong. where did you get the question?

FlyingChineseBoy
 2 years ago
Best ResponseYou've already chosen the best response.0Not comparable. Fail to hold total budget and the consumption of other goods constant at the same time as (4,4) and (3,5) cost differently.

sub
 2 years ago
Best ResponseYou've already chosen the best response.0no dear.i think we have to 1st find the income by its formula and then have to make graph,,

sub
 2 years ago
Best ResponseYou've already chosen the best response.0then we can make budget line

FlyingChineseBoy
 2 years ago
Best ResponseYou've already chosen the best response.0dw:1365401341275:dw According to the given 2 conditions, we can draw 1 consumption curve and 1 indifference curve tangent to it at the point (4,4). We can also draw 1 consumption curve and 1 indifference curve to it at the piont (3,5). When I was trying to draw the last indifference curve I found the 2 indifference curve must cross with each other to complete the gragh. But you know indifference curves never cross. So the given conditions are wrong.

keshav.rana.1992
 2 years ago
Best ResponseYou've already chosen the best response.0acc to me utility is more in 3,5 so consumers prefers it
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.