Exam 7: Consumer Behavior

You decide to donate $5 to Jerry's Kids at the grocery store checkout,and get to sign your name to a shamrock and hang it in their window.This is an example of the economic concept of:

This graph shows three different budget constraints: A,B,and C. If Daniel has budget constraint C in the graph shown,what would cause it to shift to budget constraint B?

The marginal utility gained from the consumption of successive units of a typical good:

This graph shows three different budget constraints: A,B,and C. If Doug is on budget constraint C in the graph shown,what would cause it to shift to budget constraint B?

This table shows the different combinations of goods that Jack can consume,given that his income to spend on these two items is $10. Considering the information in the table shown,if Jack consumes 3 popsicles and 1 ice cream cone,then:

If the graph shown represents Donna's budget constraint,and the price of earrings were to decrease,the slope of Donna's budget constraint would become:

If the graph shown represents Steph's budget constraint,and the price of hairbands were to increase,the slope of Steph's budget constraint would become:

Sam has $200 a month to spend on either tanning sessions or rounds of golf.Tanning sessions are $20 each,and a round of golf is $40.What can we say about Sam's utility?

The concept of diminishing marginal utility:

Assume the graph shown represents Dawn's budget constraint.If Dawn's income to spend on these two items increased and Dawn spends all her income on these two goods,then Dawn's total utility from consuming these two goods:

Assume Bonnie has $64 to spend on hairbands and earrings.Her budget constraint is shown in the graph shown.Which of the following can be said about Bonnie's choices?

The slope of the budget line in the graph shown:

Assume Mimi's budget constraint is shown in the graph shown.If earrings cost $7,then hairbands must cost:

Utility is:

A budget constraint is:

Rational utility maximizing consumers tend to:

Consider budget constraints A and B in the graph shown.The slope of A compared to the slope of B:

If the graph shown represents Stella's budget constraint,and she has income of $48 to spend on these two items,Stella could choose which consumption bundle?

If the graph shown represents Hanna's budget constraint,and the price of hairbands were to decrease,the slope of Hanna's budget constraint would become:

When economists observe someone make a choice,they assume the individual chooses: