A) are nonintersecting. B) are contour lines of a utility function. C) are negatively sloped. D) All of the above. A) are nonintersecting. B) are contour lines of a utility function. C) are negatively sloped. D) All of the above.

Exam 2: Utility and Choice

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Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.What is the algebraic expression of the budget?

(Multiple Choice)

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Question 21

An increase in an individual's income without changing relative prices will

(Multiple Choice)

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Question 22

Suppose an individual's MRS (of steak for beer)is 2:1.That is,at the current consumption choices he or she is willing to give up 2 beers to get an extra steak.Suppose also that the price of a steak is $1 and a beer is 25¢.Then in order to increase utility the individual should

(Multiple Choice)

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Question 23

If the price of X falls,the budget constraint

(Multiple Choice)

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Question 24

Suppose a caffeine-deprived man needs to wake up.Suppose his preferences can be described by If the price of coffee is $4 and the price of tea is $1,he will buy

(Multiple Choice)

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Question 25

If an individual's indifference curve map does not obey the assumption of a diminishing MRS,then

(Multiple Choice)

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Question 26

Indifference curves

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Question 27

Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.Suppose the student simply prefers more caffeine to less and that the tea sold has the same amount of caffeine as the coffee.The student will buy

(Multiple Choice)

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Question 28

Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.What is the market tradeoff between coffee and tea?

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Question 29

Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.If you were going to write an algebraic expression of this budget line of the form .B would be

(Multiple Choice)

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Question 30

Showing 21 - 30 of 30

Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.What is the algebraic expression of the budget?

An increase in an individual's income without changing relative prices will

Suppose an individual's MRS (of steak for beer)is 2:1.That is,at the current consumption choices he or she is willing to give up 2 beers to get an extra steak.Suppose also that the price of a steak is $1 and a beer is 25¢.Then in order to increase utility the individual should

If the price of X falls,the budget constraint

Suppose a caffeine-deprived man needs to wake up.Suppose his preferences can be described by If the price of coffee is $4 and the price of tea is $1,he will buy

If an individual's indifference curve map does not obey the assumption of a diminishing MRS,then

Indifference curves

Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.Suppose the student simply prefers more caffeine to less and that the tea sold has the same amount of caffeine as the coffee.The student will buy

Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.What is the market tradeoff between coffee and tea?

Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25.Suppose a student's beverage budget is $20 per week.If you were going to write an algebraic expression of this budget line of the form .B would be

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