Asked by Johnny Gomez on Jul 03, 2024

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Thomas faces prices of $6 for a unit of good X and $30 for a unit of good Y. At his optimum, Thomas is willing to give up 1 unit of good Y for __________ units of good X.

Optimum

The most favorable condition or level that achieves the best possible outcome or efficiency.

Good X

A placeholder term for any specific good, product, or item within economic analysis.

Good Y

A hypothetical product or item, often used in economic models and theories to illustrate various economic principles and interactions.

  • Perceive and solve for the optimal assortment of products for a consumer, given their partialities and the prevailing prices.
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ZK
Zybrea KnightJul 08, 2024
Final Answer :
5