Read the report carefully and answer the questions based on the report:
|
How much of Good X can the consumer consume if she spends her entire income on that good? |
5 units 10 units 15 units 20 units |
20 units |
The correct answer is Option (4) → 20 units Given:
Maximum quantity of Good X= Consumer’s Budget / Price of good X = 100 / 5 = 20 Units Therefore, the consumer can consume 20 units of Good X. |