Exam 3: Consumer Preferences and the Concept of Utility

If a consumer's preferences are quasi-linear,then the consumer's indifference curves will be:

When total utility,U(x) is maximized,marginal utility,MU_x is

Sally likes Jim twice as much as she likes Bob.This is an example of

Which of the following utility functions is an example of Quasi-linear preferences?

Suppose the marginal rate of substitution of x for y is constant for all levels of and Goods and are

The principle of diminishing marginal utility implies

An illustration of an indifference curve has:

Given a utility function U = 3A²B³,which of the following is true?

A consumer would not generally be represented as deriving utility from:

If a consumer is unable two compare two baskets,then this consumer's preferences violate which of the following key assumptions?

38.Which of the following statements is true?

The assumption that more is preferred to less:

Suppose that a consumer has utility function U= Ax²y² with MU_x = Ay²x and MU_y = Ax²y.Which of the following statements is false?

Which of the following statements is false?

Marginal utility is

Suppose that a consumer has the utility function U = 5A + 7B.If is measured on the horizontal axis

Suppose the marginal rate of substitution of for is given by MRS_x,y = 5x/7y

Two goods are perfect substitutes.The marginal rate of substitution for these two goods is:

If indifference curves are upward sloping,this violates the assumption that preferences

53.If two goods are perfect substitutes,then