Exam 3: Utility-Part B

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Ambrose has the utility function U(x₁, x₂)=4x^1/2₁ + x₂.If Ambrose were initially consuming 49 units of nuts (good 1)and 12 units of berries (good 2), then what is the largest number of berries that he would be willing to give up in return for an additional 32 units of nuts?

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Question 1

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Joe Bob has a cousin Martin who consumes goods 1 and 2.Martin thinks that 2 units of good 1 is always a perfect substitute for 4 units of good 2.Which of the following utility functions is the only one that would not represent Martin's preferences?

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Question 2

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Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 15 apples and 16 bananas will also pass through the point where he consumes 3 apples and

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Question 3

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Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 6 apples and 16 bananas will also pass through the point where he consumes 2 apples and

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Question 4

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ + 2x₂, 2x₁ +x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

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Question 5

Charlie's utility function is U(A, B)= AB, where A and B are the numbers of apples and bananas, respectively, that he consumes.If Charlie is consuming 40 apples and 160 bananas, then if we put apples on the horizontal axis and bananas on the vertical axis, the slope of his indifference curve at his current consumption is

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Question 6

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 24 apples and 6 bananas will also pass through the point where he consumes 4 apples and

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Question 7

Charlie's utility function is U(A, B)= AB, where A and B are the numbers of apples and bananas, respectively, that he consumes.If Charlie is consuming 40 apples and 240 bananas, then if we put apples on the horizontal axis and bananas on the vertical axis, the slope of his indifference curve at his current consumption is

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Question 8

Joe Bob has a cousin Don who consumes goods 1 and 2.Don thinks that 3 units of good 1 is always a perfect substitute for 2 units of good 2.Which of the following utility functions is the only one that would not represent Don's preferences?

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Question 9

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 40 apples and 9 bananas will also pass through the point where he consumes 5 apples and

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Question 10

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ +2x₂, 2x₁ +x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

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Question 11

Phil Rupp, has a sister Ethel who has the utility function U(x, y)=min{x +y, 6y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

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Question 12

Phil Rupp, has a sister Ethel who has the utility function U(x, y)=min{3x + y, 4y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

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Question 13

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ + 2x₂, 2x₁ + x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $1 per unit and the price of french fries is $4 per unit, then Harry will

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Question 14

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 12 apples and 64 bananas will also pass through the point where he consumes 2 apples and

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Question 15

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ + 2x₂, 2x₁ + x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $4 per unit and the price of french fries is $2 per unit, then Harry will

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Question 16

Phil Rupp,has a sister Ethel who has the utility function U(x, y)=min{5x + y, 6y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

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Question 17

Charlie's utility function is U(A, B)= AB, where A and B are the numbers of apples and bananas, respectively, that he consumes.If Charlie is consuming 30 apples and 120 bananas, then if we put apples on the horizontal axis and bananas on the vertical axis, the slope of his indifference curve at his current consumption is

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Question 18

Ambrose has the utility function U(x₁, x₂)= 4x^1/2₁ + x₂.If Ambrose were initially consuming 9 units of nuts (good 1)and 21 units of berries (good 2), then what is the largest number of berries that he would be willing to give up in return for an additional 16 units of nuts?

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Question 19

Joe Bob has a cousin Pete who consumes goods 1 and 2.Pete thinks that 3 units of good 1 is always a perfect substitute for 4 units of good 2.Which of the following utility functions is the only one that would not represent Pete's preferences?

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Question 20

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Exam 3: Utility-Part B

Ambrose has the utility function U(x1, x2)=4x1/21 + x2.If Ambrose were initially consuming 49 units of nuts (good 1)and 12 units of berries (good 2), then what is the largest number of berries that he would be willing to give up in return for an additional 32 units of nuts?

Joe Bob has a cousin Martin who consumes goods 1 and 2.Martin thinks that 2 units of good 1 is always a perfect substitute for 4 units of good 2.Which of the following utility functions is the only one that would not represent Martin's preferences?

Charlie has the utility function U(xA, xB)=xAxB.His indifference curve passing through 15 apples and 16 bananas will also pass through the point where he consumes 3 apples and

Charlie has the utility function U(xA, xB)=xAxB.His indifference curve passing through 6 apples and 16 bananas will also pass through the point where he consumes 2 apples and

Harry Mazzola has the utility function U(x1, x2)=min{x1 + 2x2, 2x1 +x2}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

Charlie has the utility function U(xA, xB)=xAxB.His indifference curve passing through 24 apples and 6 bananas will also pass through the point where he consumes 4 apples and

Joe Bob has a cousin Don who consumes goods 1 and 2.Don thinks that 3 units of good 1 is always a perfect substitute for 2 units of good 2.Which of the following utility functions is the only one that would not represent Don's preferences?

Charlie has the utility function U(xA, xB)=xAxB.His indifference curve passing through 40 apples and 9 bananas will also pass through the point where he consumes 5 apples and

Harry Mazzola has the utility function U(x1, x2)=min{x1 +2x2, 2x1 +x2}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

Phil Rupp, has a sister Ethel who has the utility function U(x, y)=min{x +y, 6y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

Phil Rupp, has a sister Ethel who has the utility function U(x, y)=min{3x + y, 4y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

Harry Mazzola has the utility function U(x1, x2)=min{x1 + 2x2, 2x1 + x2}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $1 per unit and the price of french fries is $4 per unit, then Harry will

Charlie has the utility function U(xA, xB)=xAxB.His indifference curve passing through 12 apples and 64 bananas will also pass through the point where he consumes 2 apples and

Harry Mazzola has the utility function U(x1, x2)=min{x1 + 2x2, 2x1 + x2}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $4 per unit and the price of french fries is $2 per unit, then Harry will

Phil Rupp,has a sister Ethel who has the utility function U(x, y)=min{5x + y, 6y}.Where x is measured on the horizontal axis and y on the vertical axis, her indifference curves consist of a

Ambrose has the utility function U(x1, x2)= 4x1/21 + x2.If Ambrose were initially consuming 9 units of nuts (good 1)and 21 units of berries (good 2), then what is the largest number of berries that he would be willing to give up in return for an additional 16 units of nuts?

Joe Bob has a cousin Pete who consumes goods 1 and 2.Pete thinks that 3 units of good 1 is always a perfect substitute for 4 units of good 2.Which of the following utility functions is the only one that would not represent Pete's preferences?

Budget Constraint-Part A

Budget Constraint-Part B

Preferences-Part A

Preferences-Part B

Utility-Part A

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

Ambrose has the utility function U(x₁, x₂)=4x^1/2₁ + x₂.If Ambrose were initially consuming 49 units of nuts (good 1)and 12 units of berries (good 2), then what is the largest number of berries that he would be willing to give up in return for an additional 32 units of nuts?

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 15 apples and 16 bananas will also pass through the point where he consumes 3 apples and

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 6 apples and 16 bananas will also pass through the point where he consumes 2 apples and

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ + 2x₂, 2x₁ +x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 24 apples and 6 bananas will also pass through the point where he consumes 4 apples and

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 40 apples and 9 bananas will also pass through the point where he consumes 5 apples and

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ +2x₂, 2x₁ +x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $2 per unit and the price of french fries is $2 per unit, then Harry will

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ + 2x₂, 2x₁ + x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $1 per unit and the price of french fries is $4 per unit, then Harry will

Charlie has the utility function U(x_A, x_B)=x_Ax_B.His indifference curve passing through 12 apples and 64 bananas will also pass through the point where he consumes 2 apples and

Harry Mazzola has the utility function U(x₁, x₂)=min{x₁ + 2x₂, 2x₁ + x₂}.He has $40 to spend on corn chips and french fries.If the price of corn chips is $4 per unit and the price of french fries is $2 per unit, then Harry will

Ambrose has the utility function U(x₁, x₂)= 4x^1/2₁ + x₂.If Ambrose were initially consuming 9 units of nuts (good 1)and 21 units of berries (good 2), then what is the largest number of berries that he would be willing to give up in return for an additional 16 units of nuts?