Homework answers / question archive / Given that income is $500 and PX = $20 and PY = $5, what is the price ratio between goods X (horizontal axis) and Y (vertical axis)?   Suppose a consumer with an income of $100 is faced with Px = $1 and Py = $0

Given that income is $500 and PX = $20 and PY = $5, what is the price ratio between goods X (horizontal axis) and Y (vertical axis)?   Suppose a consumer with an income of $100 is faced with Px = $1 and Py = $0

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Given that income is $500 and P_X = $20 and P_Y = $5, what is the price ratio between goods X (horizontal axis) and Y (vertical axis)?

 

Suppose a consumer with an income of $100 is faced with P_x = $1 and P_y = $0.50. What is the price ratio between good X (horizontal axis) and good Y (vertical axis)?

 

What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and P_x = $5, P_y = $10, X = 20, and I = 500?

 

If the price of good X is $10 and the price of good Y is $5, how much of good X can the consumer purchase if her income is $15 and she spends it entirely on purchasing good X?