Exhibit 6-24 Which point on curve I1 in Exhibit 6-24 yields the most utility?

A) point a B) point b C) point e D) point f E) All points on curve I1 yield the same utility. A) point a B) point b C) point e D) point f E) All points on curve I1 yield the same utility.

Exam 6: Appendix--Indifference Curves and Utility Maximization

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A candy bar sells for 50 cents, video games are 25 cents each, the horizontal (candy)intercept of Ann's budget line is 12, and the vertical (video game)intercept of Ann's budget line is 24.Which of the following best describes what would happen to the budget line if Ann's income increased?

(Multiple Choice)

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Question 61

The marginal rate of substitution indicates

(Multiple Choice)

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Question 62

A family on a trip budgets $200 for restaurant meals and fast food.If the price of a fast-food meal for the whole family is $20, what is the vertical intercept of the budget line when fast food is measured on the horizontal axis?

(Multiple Choice)

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Question 63

All combinations of goods along the same indifference curve represent the same level of utility.

(True/False)

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Question 64

The slope of the budget line is measured in units of income.

(True/False)

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Question 65

What would happen if the price of novels increased and novels are measured on the horizontal axis of a budget line diagram?

(Multiple Choice)

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Question 66

What would happen to the budget line if the price of compact disks decreased and compact disks are measured on the vertical axis?

(Multiple Choice)

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Question 67

Exhibit 6-24 Which of the combinations of Good A and Good B in Exhibit 6-24 would an individual prefer?

(Multiple Choice)

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Question 68

Chris budgets $30 this week for spending on his two favorite things, pizza and movies.The price of a movie is $5.Moreover, he could buy 3 pizzas if he doesn't go to the movies.If pizza is on the horizontal axis, what is the slope of the budget line?

(Multiple Choice)

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Question 69

Exhibit 6-28 The rotation of the budget line in Exhibit 6-28 from AC to AB represents a(n)

(Multiple Choice)

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Question 70

All combinations of goods along the same budget line represent the same level of utility.

(True/False)

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Question 71

A line that shows the combinations of two goods that can be purchased with a given income is called a(n)

(Multiple Choice)

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Question 72

A family on a trip budgets $800 for restaurant meals and fast food.If the price of a fast-food meal for the whole family is $20, how many meals can the family buy if they don't eat at restaurants?

(Multiple Choice)

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Question 73

An indifference curve shows

(Multiple Choice)

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Question 74

An increase in income is represented by a shift of the budget line outward to a parallel position.

(True/False)

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Question 75

A candy bar sells for 50 cents, video games are 25 cents each, the horizontal (candy)intercept of Ann's budget line is 12, and the vertical (video game)intercept of Ann's budget line is 24.The slope of the budget line is

(Multiple Choice)

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(35)

Question 76

Exhibit 6-24 Which point on curve I₁ in Exhibit 6-24 yields the most utility?

(Multiple Choice)

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Question 77

Exhibit 6-23 In Exhibit 6-23, the marginal rate of substitution of food for clothing between points a and b equals

(Multiple Choice)

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Question 78

Exhibit 6-28 The rotation of the budget line in Exhibit 6-28 from AB to AC represents

(Multiple Choice)

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Question 79

Exhibit 6-29 Which graph in Exhibit 6-29 shows an increase in the price of food?

(Multiple Choice)

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Question 80

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Exam 6: Appendix--Indifference Curves and Utility Maximization

A candy bar sells for 50 cents, video games are 25 cents each, the horizontal (candy)intercept of Ann's budget line is 12, and the vertical (video game)intercept of Ann's budget line is 24.Which of the following best describes what would happen to the budget line if Ann's income increased?

The marginal rate of substitution indicates

A family on a trip budgets $200 for restaurant meals and fast food.If the price of a fast-food meal for the whole family is $20, what is the vertical intercept of the budget line when fast food is measured on the horizontal axis?

All combinations of goods along the same indifference curve represent the same level of utility.

The slope of the budget line is measured in units of income.

What would happen if the price of novels increased and novels are measured on the horizontal axis of a budget line diagram?

What would happen to the budget line if the price of compact disks decreased and compact disks are measured on the vertical axis?

Exhibit 6-24 Which of the combinations of Good A and Good B in Exhibit 6-24 would an individual prefer?

Chris budgets $30 this week for spending on his two favorite things, pizza and movies.The price of a movie is $5.Moreover, he could buy 3 pizzas if he doesn't go to the movies.If pizza is on the horizontal axis, what is the slope of the budget line?

Exhibit 6-28 The rotation of the budget line in Exhibit 6-28 from AC to AB represents a(n)

All combinations of goods along the same budget line represent the same level of utility.

A line that shows the combinations of two goods that can be purchased with a given income is called a(n)

A family on a trip budgets $800 for restaurant meals and fast food.If the price of a fast-food meal for the whole family is $20, how many meals can the family buy if they don't eat at restaurants?

An indifference curve shows

An increase in income is represented by a shift of the budget line outward to a parallel position.

A candy bar sells for 50 cents, video games are 25 cents each, the horizontal (candy)intercept of Ann's budget line is 12, and the vertical (video game)intercept of Ann's budget line is 24.The slope of the budget line is

Exhibit 6-24 Which point on curve I1 in Exhibit 6-24 yields the most utility?

Exhibit 6-23 In Exhibit 6-23, the marginal rate of substitution of food for clothing between points a and b equals

Exhibit 6-28 The rotation of the budget line in Exhibit 6-28 from AB to AC represents

Exhibit 6-29 Which graph in Exhibit 6-29 shows an increase in the price of food?

The Art and Science of Economic Analysis

Appendix--Understanding Graphs

Economic Tools and Economics Systems

Economic Decision Makers

Demand, Supply, and Markets

Elasticity of Demand and Supply

Appendix--Price Elasticity and Tax Incidence

Consumer Choice and Demand

Production and Cost in the Firm

A--Perfect Competition

B--Perfect Competition

A--Monopoly

B--Monopoly

Monopolistic Competition and Oligopoly

Resource Markets

Labor Markets and Labor Unions

Capital, Interest, and Corporate Finance

Transaction Costs, Imperfect Information, and Behavioral Economics

Economic Regulation and Antitrust Policy

Public Goods and Public Choice

Externalities and the Environment

Income Distribution and Poverty

International Trade

International Finance

Economic Development

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Exhibit 6-24 Which point on curve I₁ in Exhibit 6-24 yields the most utility?