Consider a consumer who can buy good 1 or 2. The price of good 1 is $5 and the price for good 2 is $4. The consumer has income of 60. She buys 12 units of good 2. The consumer wants to also purchase 2 units of good 1. Which statement is true?Group of answer choicesThis is feasible, as the consumer is inside her budget setThis is outside the consumer’s budget set – it is unaffordableThis is affordable – the consumer would be consuming on her budget constraintall of the abovenone of the above PreviousNext

Consider the budget set for a consumer with income of 100 facing the following prices. The price for the first five units of good 1 is $10 (per unit) If the consumer buys more than five units, the price is $5 for any subsequent unit purchased. If the consumer buys 2 units of good 2 at a price of $10 a unit and is on her budget constraint, how many units of good 1 does she buy?Group of answer choices7891011

Consider a consumer who can buy good 1 or 2. The price of good 1 is $5 and the price for good 2 is $4. The consumer has income of 60. If the consumer buys 4 units of good 1 and consumes on their budget constraint, how many units of good 2 does she buy?Group of answer choices681012none of the above

Figure 22-14Refer to Figure 22-14. Suppose the price of good X is $8, the price of good Y is $10, and the consumer's income is $360. Then the consumer's optimal choice is to buyGroup of answer choices40 units of good X and 4 units of good Y.30 units of good X and 12 units of good Y.15 units of good X and 24 units of good Y.20 units of good X and 20 units of good Y.

Consumers must forgo certain goods and services based on a limited budget because Blank______.Multiple choice question.a consumer's limited budget is constrained by the resources used to produce goods or servicesa consumer's limited budget is constrained by the availability of goods or servicesa consumer's limited budget is constrained by the demand for goods or servicesa consumer spends his or her limited budget purchasing a combination of goods and services that maximize his or her satisfaction

For a consumer, the price of good 1 is $5 per unit for the first 5 units, then the price drops to $1 per unit for every unit purchased thereafter. The price of good 2 is $1 per unit. The consumer has an income of $50. If good 1 is represented on the x-axis and good 2 on the y-axis, the slope of the budget constraint at x1 = 3 is: