If the budget for the consumer is $48, then at point C, the consumer is said to be in equilibrium. The price per glass of Kool-Aid is $3. The price per glass of tea is $4. All of t... If the budget for the consumer is $48, then at point C, the consumer is said to be in equilibrium. The price per glass of Kool-Aid is $3. The price per glass of tea is $4. All of the above.
Understand the Problem
The question is asking about consumer equilibrium based on the given budget of $48 for Kool-Aid and tea. It requires the interpretation of the graph to determine the conditions for equilibrium and the prices of the beverages.
Answer
All of the above.
The final answer is all of the above.
Answer for screen readers
The final answer is all of the above.
More Information
At point C, the consumer's budget allows for the purchase of a combination of Kool-Aid and tea that maximizes their utility, given the prices.
Tips
Ensure the point matches the budget constraint accurately. Double-check the calculations of how many glasses can be bought with the given budget.
Sources
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