Exam 2: Preferences-Part B

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if we graph Mary Granola's indifference curves with avocados on the horizontal axis and grapefruits on the vertical axis, then whenever she has more grapefruits than avocados, the slope of her indifference curve is -2.Whenever she has more avocados than grapefruits, the slope is -1/2.Mary would be indifferent between a bundle with 9 avocados and 21 grapefruits and another bundle with 19 avocados and

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Question 21

if we graph Mary Granola's indifference curves with avocados on the horizontal axis and grapefruits on the vertical axis, then whenever she has more grapefruits than avocados, the slope of her indifference curve is -2.Whenever she has more avocados than grapefruits, the slope is -1/2.Mary would be indifferent between a bundle with 24 avocados and 30 grapefruits and another bundle with 30 avocados and

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Question 22

Nancy Lerner is taking a course from Professor Goodheart who will count only her best midterm grade and from Professor Stern who will count only her worst midterm grade.In one of her classes, Nancy has scores of 40 on her first midterm and 50 on her second midterm.When the first midterm score is measured on the horizontal axis and her second midterm score on the vertical, her indifference curve has a slope of zero at the point (40, 50).This class could

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Question 23

Charlie's indifference curves have the equation x_B = constant/x_A, where larger constants correspond to better indifference curves.Charlie strictly prefers the bundle (5, 13)to the bundle

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Question 24

if we graph Mary Granola's indifference curves with avocados on the horizontal axis and grapefruits on the vertical axis, then whenever she has more grapefruits than avocados, the slope of her indifference curve is -2.Whenever she has more avocados than grapefruits, the slope is -1/2.Mary would be indifferent between a bundle with 9 avocados and 15 grapefruits and another bundle with 15 avocados and

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Question 25

if we graph Mary Granola's indifference curves with avocados on the horizontal axis and grapefruits on the vertical axis, then whenever she has more grapefruits than avocados, the slope of her indifference curve is -2.Whenever she has more avocados than grapefruits, the slope is -1/2.Mary would be indifferent between a bundle with 23 avocados and 29 grapefruits and another bundle with 31 avocados and

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Question 26

Ambrose has indifference curves with the equation x₂ = constant - 4x^1/2₁, where larger constants correspond to higher indifference curves.If good 1 is drawn on the horizontal axis and good 2 on the vertical axis, what is the slope of Ambrose's indifference curve when his consumption bundle is (9, 19)?

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Question 27

Ambrose has indifference curves with the equation x₂ = constant -4x^1/2₁, where larger constants correspond to higher indifference curves.If good 1 is drawn on the horizontal axis and good 2 on the vertical axis, what is the slope of Ambrose's indifference curve when his consumption bundle is (4, 11)?

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Question 28

Ambrose has indifference curves with the equation x₂ = constant - 4x^1/2₁, where larger constants correspond to higher indifference curves.If good 1 is drawn on the horizontal axis and good 2 on the vertical axis, what is the slope of Ambrose's indifference curve when his consumption bundle is (1, 11)?

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Question 29

recall that Tommy Twit's mother measures the departure of any bundle from her favorite bundle for Tommy by the sum of the absolute values of the differences.Her favorite bundle for Tommy is (2, 7), that is, 2 cookies and 7 glasses of milk.Tommy's mother's indifference curve that passes through the point (c, m)=(4, 5)also passes through

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Question 30

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Exam 2: Preferences-Part B

Charlie's indifference curves have the equation xB = constant/xA, where larger constants correspond to better indifference curves.Charlie strictly prefers the bundle (5, 13)to the bundle

Budget Constraint-Part A

Budget Constraint-Part B

Preferences-Part A

Utility-Part A

Utility-Part B

Choice-Part A

Choice-Part B

Demand-Part A

Demand-Part B

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Market Demand-Part B

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Technology-Part B

Profit Maximization-Part A

Profit Maximization-Part B

Cost Minimization-Part A

Cost Minimization-Part B

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Firm Supply-Part B

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

Externalities-Part B

Information Technology-Part A

Information Technology-Part B

Public Goods-Part A

Public Goods-Part B

Asymmetric Information-Part A

Asymmetric Information-Part B

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Charlie's indifference curves have the equation x_B = constant/x_A, where larger constants correspond to better indifference curves.Charlie strictly prefers the bundle (5, 13)to the bundle