The diagram above depicts the budget line (BL) and the indifference curve (IC). Let's denote price for good X as X, and price for good Y as Y. The optimal bundle includes only Good X. Suggest any numerical values for X and Y that are consistent with the diagram and its description. WARNING: The answers must be only numbers. Don't enter any words or symbols.

Question

BlackTom AI · Accepted Answer

The prompt describes a diagram with a budget line (BL) and an indifference curve (IC). It states that the optimal bundle includes only Good X and asks for numerical values for X and Y that are consistent with the diagram and description, with the warning that answers must be only numbers and no words.

First, since the optimal bundle includes only Good X, the consumer spends all available budget on X and buys zero of Y. In microeconomic terms, this is a corner solution where Y = 0 and X equals the budget divided by the price of X (X = B / Px). Therefore, any numerically valid pair must have Y = 0, not a positive amount of Y.

Next, consider what the diagram implies about intercepts. The BL intersects the X-axis at some positive X value (the X-intercept) and the Y-axis at some positive Y value (the Y-intercept). Under the stated condition that only X is purchased at the optimum, the consistent numerical representation would set Y to 0 and X to the corresponding budget-based quantity (X = budget / price of X). Any pair with Y > 0 would contradict the description that the optimal bundle includes only Good X.

Since the provided data includes no answer options to evaluate individually, we cannot assess multiple choices. However, from the economic reasoning above, a numerically consistent pair would require Y = 0. If you were given a specific budget and price for X, you would compute X = Budget / Px, with Y remaining 0. In contrast, a pair like (X = any positive value, Y = any positive value) would not align with the “only Good X” condition, as it implies spending on both goods rather than exclusively on X.

In summary, the key consistency check is that Y must be 0 for the optimal bundle that includes only Good X; any nonzero Y would violate the described situation. If a numeric answer such as (X, Y) = (1, 1) is proposed, it conflicts with the requirement that the allocation uses no units of Good Y.

查看解析

登录即可查看完整答案

类似问题

Edgeworth

An indifference curve represents bundles of goods that a consumer (choose all correct answers):

Suppose Abed’s indifference curves for two goods are shown by the figure below. What must be true about Abed’s consumer behaviour?

Indifference curves that are perfect right angles, like in the diagram, violate:

Indifference curves that are perfect right angles, like in the diagram, violate:

An indifference curve of the perfect substitutes:

An indifference curve represents bundles of goods that a consumer (choose all correct answers):

An indifference curve represents bundles of goods that a consumer (choose all correct answers):

更多留学生实用工具

考试浏览器助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单