JNU 2002

Posted by Ankit Agrawal on May 03, 2013; 4:39am
URL: http://discussion-forum.276.s1.nabble.com/JNU-2002-tp7580333.html

Q 2. an individual ranks any two bundles (x,y) and (x',y') in the following manner: if either x>x' or if x=x' and y>y', the individual prefers (x,y) to (x',y'). An individual's income is Rs. 100/week. Price of good x=Rs. 2/unit. Price of good y=Re. 1/unit. The individual will consume:

(a) 25 units of x and 50 units of y
(b) 100 units of y
(c) 50 units of x
(d) 45 units of x and 10 units of y