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Individuals budget constraint

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Reference no: EM131250950

Suppose a consumer has an income of $30 that is spent on two goods: X and Y. The price of good X is $1.00 and the price of good Y is $3.00. Which of the following bundles of X and Y lie on the individuals budget constraint?

  • 8X and 6Y
  • 6X and 8Y
  • 8X and 10Y
  • 12X and 4Y
  • 16X and 6Y

Reference no: EM131250950

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