Table: Demand and Utility Schedules for packs of scented candles \[\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\ \hline \$ 8 & 1 & & \\ \hline \$ 7 & 2 & & \\ \hline \$ 6 & 3 & & \\ \hline \$ 5 & 4 & & \\ \hline \$ 4 & 5 & & \\ \hline \end{array}\] -The additional utility from her purchase of a third scented candle would be

A) $4. B) $5. C) $6. D) $15. E) $21. A) $4. B) $5. C) $6. D) $15. E) $21.

Table-Demand and Utility Table for action figures \[\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\ \hline \$ 14 & 1 & & \\ \hline \$ 12 & 2 & & \\ \hline \$ 10 & 3 & & \\ \hline \$ 8 & 4 & & \\ \hline \$ 6 & 5 & & \\ \hline \end{array}\] -If the price of action figures was $10 each,his total utility would be ____ and your marginal utility would be ___.

A) $30 and $10 B) $36 and $12 C) $36 and $10 D) $26 and $12 E) $50 and $6 A) $30 and $10 B) $36 and $12 C) $36 and $10 D) $26 and $12 E) $50 and $6

Demand and Utility Table for Milk Shakes \[\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\ \hline \$ 4 & 1 & & \\ \hline \$ 3.50 & 2 & & \\ \hline \$ 3.00 & 3 & & \\ \hline \$ 2.50 & 4 & & \\ \hline \$ 2.00 & 5 & & \\ \hline \end{array}\] -If the price of milk shakes was $3.00 each,your consumer surplus would be

A) $10.50. B) $6.00. C) $3.50. D) $3.00. E) $1.50. A) $10.50. B) $6.00. C) $3.50. D) $3.00. E) $1.50.

Demand and Utility Table for Milk Shakes \[\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\ \hline \$ 4 & 1 & & \\ \hline \$ 3.50 & 2 & & \\ \hline \$ 3.00 & 3 & & \\ \hline \$ 2.50 & 4 & & \\ \hline \$ 2.00 & 5 & & \\ \hline \end{array}\] -The marginal utility of your fourth milk shake would be

A) $13. B) $2.50. C) $2.00. D) $.50. A) $13. B) $2.50. C) $2.00. D) $.50.

Table-Demand and Utility Table for action figures \[\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\ \hline \$ 14 & 1 & & \\ \hline \$ 12 & 2 & & \\ \hline \$ 10 & 3 & & \\ \hline \$ 8 & 4 & & \\ \hline \$ 6 & 5 & & \\ \hline \end{array}\] -Tommy's total utility for 5 action figures would be

A) $6. B) $14. C) $30. D) $36. E) $50. A) $6. B) $14. C) $30. D) $36. E) $50.

Table: Demand and Utility Schedules for packs of scented candles \[\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\ \hline \$ 8 & 1 & & \\ \hline \$ 7 & 2 & & \\ \hline \$ 6 & 3 & & \\ \hline \$ 5 & 4 & & \\ \hline \$ 4 & 5 & & \\ \hline \end{array}\] -Her marginal utility of her fifth scented candle would be

A) $4. B) $5. C) $20. D) $26. E) $30. A) $4. B) $5. C) $20. D) $26. E) $30.

Exam 19: Theory of Consumer Behavior

Table: Demand and Utility Schedules for packs of scented candles Price Quantity Demanded Marginal Utility Total Utility \ 8 1 \ 7 2 \ 6 3 \ 5 4 \ 4 5 -The additional utility from her purchase of a third scented candle would be

(Multiple Choice)

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Question 101

Kelly eats five slices of pizza on a Friday night but admits each slice of pizza doesn't taste as good as the previous one.This suggests that for Kelly

(Multiple Choice)

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Question 102

Mr.Fefferberg had determined that the marginal utility of the last dollar he spent on cowboy boots is greater than the marginal utility of the last dollar that he spent on Nikes.Since he is a rational fellow,he will

(Multiple Choice)

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Question 103

Statement I: Consumer surplus is the difference between what you have to pay and what you would have been willing to pay. Statement II: A person's total utility reaches a maximum when that person's marginal utility falls to zero.

(Multiple Choice)

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Question 104

If you pay a very high price for a good or service,you _____ (are/are not)getting ripped off.

(Short Answer)

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Question 105

If marginal utility is declining but still greater than zero,then total utility is

(Multiple Choice)

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Question 106

Statement I: The water-diamond paradox can be resolved using utility theory. Statement II: If the price of water was high and the price of diamonds was low,there would be no water-diamond paradox.

(Multiple Choice)

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(36)

Question 107

Table-Demand and Utility Table for action figures Price Quantity Demanded Marginal Utility Total Utility \ 14 1 \ 12 2 \ 10 3 \ 8 4 \ 6 5 -If the price of action figures was $10 each,his total utility would be __ and your marginal utility would be _.

(Multiple Choice)

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Question 108

Demand and Utility Table for Milk Shakes Price Quantity Demanded Marginal Utility Total Utility \ 4 1 \ 3.50 2 \ 3.00 3 \ 2.50 4 \ 2.00 5 -If the price of milk shakes was $3.00 each,your consumer surplus would be

(Multiple Choice)

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Question 109

Demand and Utility Table for Milk Shakes Price Quantity Demanded Marginal Utility Total Utility \ 4 1 \ 3.50 2 \ 3.00 3 \ 2.50 4 \ 2.00 5 -The marginal utility of your fourth milk shake would be

(Multiple Choice)

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Question 110

Table-Demand and Utility Table for action figures Price Quantity Demanded Marginal Utility Total Utility \ 14 1 \ 12 2 \ 10 3 \ 8 4 \ 6 5 -Tommy's total utility for 5 action figures would be

(Multiple Choice)

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Question 111

Table: Demand and Utility Schedules for packs of scented candles Price Quantity Demanded Marginal Utility Total Utility \ 8 1 \ 7 2 \ 6 3 \ 5 4 \ 4 5 -Her marginal utility of her fifth scented candle would be

(Multiple Choice)

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Question 112

The Adonis Tanning Salon is running a special this month of $1 a session.Lothario Goodman goes there 15 times,instead of his customary 5.

(Multiple Choice)

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Question 113

A person's utility schedule ____________ (can/cannot)change over time.

(Short Answer)

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Question 114

Statement I: If a poor person found a ten-dollar bill lying on the sidewalk,he would get more utility from what he could buy with it than a rich person. Statement II: There is no answer to the question: "What is the utility of the economics course you're taking?"

(Multiple Choice)

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Question 115

If the marginal utility you derived from the first "steak burger" you ate was $4.00 and yet the cost of the "steak burger" was $2.00.Your marginal utility was definitely

(Multiple Choice)

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Question 116

Statement I: A person's marginal utility schedule can be derived from her demand schedule. Statement II: If you purchased six dance lessons,the total utility you derived from the six lessons would be greater than the total utility you would have derived from five lessons.

(Multiple Choice)

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Question 117

The additional utility derived from consuming one more unit of some good or service is called ___________.

(Short Answer)

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Question 118

Statement I: If you knew a person's demand schedule,you could figure out her marginal utility schedule. Statement II: As a person consumes more and more of a service,her total utility rises and her marginal utility declines.

(Multiple Choice)

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Question 119

-Given the demand curve in this graph,if price were $2.00,how much quantity would be purchased?

(Multiple Choice)

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Question 120

Exam 19: Theory of Consumer Behavior

Table: Demand and Utility Schedules for packs of scented candles Price Quantity Demanded Marginal Utility Total Utility \ 8 1 \ 7 2 \ 6 3 \ 5 4 \ 4 5 -The additional utility from her purchase of a third scented candle would be

Kelly eats five slices of pizza on a Friday night but admits each slice of pizza doesn't taste as good as the previous one.This suggests that for Kelly

Mr.Fefferberg had determined that the marginal utility of the last dollar he spent on cowboy boots is greater than the marginal utility of the last dollar that he spent on Nikes.Since he is a rational fellow,he will

Statement I: Consumer surplus is the difference between what you have to pay and what you would have been willing to pay. Statement II: A person's total utility reaches a maximum when that person's marginal utility falls to zero.

If you pay a very high price for a good or service,you _____ (are/are not)getting ripped off.

If marginal utility is declining but still greater than zero,then total utility is

Statement I: The water-diamond paradox can be resolved using utility theory. Statement II: If the price of water was high and the price of diamonds was low,there would be no water-diamond paradox.

Table-Demand and Utility Table for action figures Price Quantity Demanded Marginal Utility Total Utility \ 14 1 \ 12 2 \ 10 3 \ 8 4 \ 6 5 -If the price of action figures was $10 each,his total utility would be ____ and your marginal utility would be ___.

Demand and Utility Table for Milk Shakes Price Quantity Demanded Marginal Utility Total Utility \ 4 1 \ 3.50 2 \ 3.00 3 \ 2.50 4 \ 2.00 5 -If the price of milk shakes was $3.00 each,your consumer surplus would be

Demand and Utility Table for Milk Shakes Price Quantity Demanded Marginal Utility Total Utility \ 4 1 \ 3.50 2 \ 3.00 3 \ 2.50 4 \ 2.00 5 -The marginal utility of your fourth milk shake would be

Table-Demand and Utility Table for action figures Price Quantity Demanded Marginal Utility Total Utility \ 14 1 \ 12 2 \ 10 3 \ 8 4 \ 6 5 -Tommy's total utility for 5 action figures would be

Table: Demand and Utility Schedules for packs of scented candles Price Quantity Demanded Marginal Utility Total Utility \ 8 1 \ 7 2 \ 6 3 \ 5 4 \ 4 5 -Her marginal utility of her fifth scented candle would be

The Adonis Tanning Salon is running a special this month of $1 a session.Lothario Goodman goes there 15 times,instead of his customary 5.

A person's utility schedule ____________ (can/cannot)change over time.

Statement I: If a poor person found a ten-dollar bill lying on the sidewalk,he would get more utility from what he could buy with it than a rich person. Statement II: There is no answer to the question: "What is the utility of the economics course you're taking?"

If the marginal utility you derived from the first "steak burger" you ate was $4.00 and yet the cost of the "steak burger" was $2.00.Your marginal utility was definitely

Statement I: A person's marginal utility schedule can be derived from her demand schedule. Statement II: If you purchased six dance lessons,the total utility you derived from the six lessons would be greater than the total utility you would have derived from five lessons.

The additional utility derived from consuming one more unit of some good or service is called ___________.

Statement I: If you knew a person's demand schedule,you could figure out her marginal utility schedule. Statement II: As a person consumes more and more of a service,her total utility rises and her marginal utility declines.

-Given the demand curve in this graph,if price were $2.00,how much quantity would be purchased?

A Brief Economic History of the United States

Resource Utilization

The Mixed Economy

Supply and Demand

The Household Consumption Sector

The Business Investment Sector

The Government Sector

The Export-Import Sector

Gross Domestic Product

Economic Fluctuations, unemployment, and Inflation

Classical and Keynesian Economics

Fiscal Policy and the National Debt

Money and Banking

The Federal Reserve and Monetary Policy

A Century of Economic Theory

Economic Growth and Productivity

Demand,supply,and Equilibrium

The Price Elasticities of Demand and Supply

Cost

Profit, loss, and Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Corporate Mergers and Antitrust

Demand in the Factor Market

Labor Unions

Labor Markets and Wage Rates

Rent, interest, and Profit

Income Distribution and Poverty

International Trade

International Finance

Filters

Table-Demand and Utility Table for action figures Price Quantity Demanded Marginal Utility Total Utility \ 14 1 \ 12 2 \ 10 3 \ 8 4 \ 6 5 -If the price of action figures was $10 each,his total utility would be __ and your marginal utility would be _.