- 3 Pts 3 Apoorva Spends Her Entire Income On Good Goods X And Y Which She Views As Neither Perfect Complements Nor 1 (70.56 KiB) Viewed 35 times
3 pts. 3. Apoorva spends her entire income on ("good") goods X and Y, which she views as neither perfect complements nor perfect substitutes (i.e., she has standard-looking” indifference curves). Which of the following statements is always a incorrect characterization of Apoorva's optimal consumption bundle? a) MUX/MUY = Px/PY b) Apoorva has no income left over. c) Apoorva attains the highest utility level possible, given her budget constraint. d) Apoorva consumes positive amounts of both X and Y. e) None of the above. 3 pts. 4. Tyrone spends his entire income on two goods, X, and Y. His utility function is U=XY, and the market prices for X and Y are identical (Px=Py). The equation for Tyrone's income-consumption curve is a) Y=X. b) Y=1. c) X=1. d) MUX/MUY. e) indeterminate given this information.