Exam 7: Consumer Behavior

Assume Kevin's income to spend on the two goods in the graph shown is $48,and books cost $12.If Kevin's budget constraint is one of the lines in the graph,which one must it be?

Assume the graph shown represents Grace's budget constraint.Which of the following is true?

Assume Bridget's budget constraint is shown in the graph shown.If she has $48 to spend on these two items,then earrings must cost:

Assume Alan's budget constraint is demonstrated by line A in the graph shown.Which of the following could cause Alan's budget constraint to change to line B?

Claire has just eaten her second bowl of cereal.We can say:

Assume Alan's budget constraint is demonstrated by line A in the graph shown.Which of the following could cause Alan's budget constraint to change to line 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 2 popsicles and 2 ice cream cones:

Assume Kara's budget constraint is represented by line A in the graph shown,and that her income to spend on these two items is $24.What would cause her budget constraint to move to 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 we assume Jack is a rational utility maximizer,then we can predict he will buy which bundle with his $10?

In general,a change in the price of a good:

The utility we get from something:

Assume Claudia's budget constraint is demonstrated by line A in the graph shown.Which of the following would cause Claudia's budget constraint to shift to line C?

This graph shows three different budget constraints: A,B,and C. If Joe has budget constraint C in the graph shown,what is the relative price of three gallons of milk?

Billy is deciding whether to watch TV at home or go spend time with his friends.If Billy decides to stay home,we can conclude that:

Johnny spends his day doing a variety of activities; he spends the morning exercising and doing yard work,reads in the afternoon,and hosts a dinner party in the evening.Economists would say his choice to do a variety of activities instead of spending all of his time on one activity illustrates the concept of:

Seth is a surgeon who goes to Cambodia each summer and donates two weeks of his time to local hospitals.From an economic standpoint,utility is gained by:

Sadie has just eaten a donut and says it gave her a utility of 6.If she chooses to eat another donut:

Assume Bryce's budget constraint is represented by line C in the graph shown.Which of the following would cause Bryce's budget constraint to shift to A?

This graph shows three different budget constraints: A,B,and C.If Ted's budget constraint is shown by line A in the graph shown,and Ted's income for these two items is $36,what are the prices of the two goods?

In general,an increase in the price of a good: