Use the following to answer questions : \[\begin{array}{l} \text { Table: Bundles of } \mathrm { X } \text { and } \mathrm { Y }\\ \begin{array} { l c c c } \hline \begin{array} { l } \text { Consumption } \\ \text { Bundle } \end{array} & \begin{array} { c } \text { Quantity } \\ \text { of Good X } \end{array} & \begin{array} { c } \text { Quantity } \\ \text { of Good Y } \end{array} & \begin{array} { c } \text { Total Utility } \\ \text { (utils) } \end{array} \\ \hline \text { A } & 2 & 2 & 10 \\ \text { B } & 3 & 1 & 10 \\ \text { C } & 4 & 4 & 20 \\ \text { D } & 1 & 1 & 5 \\ \hline \end{array} \end{array}\] -If a consumer moves downward along an indifference curve,his or her total utility:

A) remains constant. B) first decreases,then increases. C) decreases. D) first increases,then decreases. A) remains constant. B) first decreases,then increases. C) decreases. D) first increases,then decreases.

Exam 22: Consumer Preferences

Use the following to answer questions : -(Figure: Kristin's Budget Line)Use Figure Kristin's Budget Line.The price of a cup of cappuccino is $3,and the price of an apple is $1.Suppose Kristin initially consumes 10 cups of cappuccino and 30 apples.Then,the price of apples increases to $3 each and the price of cappuccino remains unchanged.As a result of the price change,Kristin's optimal consumption bundle changes,reflected by a decrease in the consumption of both apples and cappuccinos.If Kristin is to maintain the same level of utility as before the price change,she must:

(Multiple Choice)

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Question 81

If combination A lies on a higher indifference curve than combination B and combination B lies on a higher indifference curve than combination C,it must be that the total utility associated with combination A is _____ the total utility associated with combination C.

(Multiple Choice)

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Question 82

For most goods,as we move down an indifference curve:

(Multiple Choice)

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Question 83

Use the following to answer questions : Scenario: Music Downloads and Streamed Movies Phillip has an income of $300 per month,which he uses to purchase music downloads (MD)and streamed movies (SM).Each music download costs $1 and each streamed movie costs $5. -(Scenario: Music Downloads and Streamed Movies)Read the scenario Music Downloads and Streamed Movies.Phillip's optimal consumption bundle will be one whose:

(Multiple Choice)

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Question 84

Decreases in the price of the good measured on the vertical axis will make the vertical intercept _ and make the budget line _.

(Multiple Choice)

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Question 85

Use the following to answer questions : Table: Bundles of and Consumption Bundle Quantity of Good X Quantity of Good Y Total Utility (utils) A 2 2 10 B 3 1 10 C 4 4 20 D 1 1 5 -If a consumer moves downward along an indifference curve,his or her total utility:

(Multiple Choice)

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Question 86

Use the following to answer questions : -(Figure: Consumer Equilibrium III)Use Figure Consumer Equilibrium III.Kurt consumes at point A.Other things held equal,Kurt would be able to realize more total utility by choosing point:

(Multiple Choice)

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Question 87

Use the following to answer questions : -(Figure: Consumer Equilibrium IV)Use Figure Consumer Equilibrium IV.Assume that you are consuming the combination of goods at point G.Given the budget constraint FL,utility can be increased by moving to point:

(Multiple Choice)

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Question 88

Use the following to answer questions : -(Figure: Consumer Equilibrium II)Use Figure Consumer Equilibrium II.Ashyra consumes at point I.She could gain more utility by choosing point _____,all other things held equal.

(Multiple Choice)

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Question 89

Use the following to answer questions : Figure: The Optimal Consumption Bundle -(Figure: The Optimal Consumption Bundle)Use Figure The Optimal Consumption Bundle.Which of the following could lead to an optimal consumption bundle on indifference curve I₁?

(Multiple Choice)

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Question 90

Use the following to answer questions : -(Figure: The Consumption of Video Games and E-Books)Use Figure The Consumption of Video Games and E-Books.Which chart shows the effects of a decrease in income when video games are an inferior good and e-books are a normal good?

(Multiple Choice)

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Question 91

Since indifference curves depend on the _ for individuals,this means that two consumers with the same income _.

(Multiple Choice)

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Question 92

Use the following to answer questions : -(Figure: The Consumption of Video Games and E-Books)Use Figure The Consumption of Video Games and E-Books.Which chart in the figure shows the effects of an increase in the price of video games when video games and e-books are complements but not perfect complements?

(Multiple Choice)

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Question 93

Shirley knows her marginal rate of substitution of mangoes for bananas is equal to 3.The price of bananas is $0.50 and the price of mangoes is $1.00.Shirley should buy more mangoes.

(True/False)

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Question 94

Use the following to answer questions : -Consumers buy both alcoholic and non-alcoholic beverages.If the government tries to discourage people from drinking alcoholic beverages by imposing an excise tax on them but gives consumers an income subsidy to keep the consumers on their original indifference curves:

(Multiple Choice)

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Question 95

Maria derives 288 utils from buying 2 pairs of hiking boots and 4 saws.She gets 313 utils from buying 1 pair of hiking boots and 7 saws.Maria is indifferent between these two combinations of hiking boots and saws.

(True/False)

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Question 96

Gwen is consuming the optimal consumption bundle of potatoes and steak.Call this bundle A.Her income is $100,the price of steak is $10,and the price of potatoes is $1.Put potatoes on the vertical axis and put steak on the horizontal axis.Her income increases to $500,and the prices of steak and potatoes remain constant.With the increase in income,Gwen changes her consumption of the two goods and now maximizes utility at bundle B.If potatoes are inferior goods for Gwen,

(Multiple Choice)

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Question 97

Assume that two combinations of two goods yield the same level of satisfaction.We can conclude that these combinations are always on:

(Multiple Choice)

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Question 98

The assumption that more is preferred to less explains why indifference curves:

(Multiple Choice)

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Question 99

Use the following to answer questions : -(Figure: Consumer Equilibrium IV)Use Figure Consumer Equilibrium IV.Assume that you are consuming the combination of goods at point I.Given the budget constraint FL,utility:

(Multiple Choice)

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Question 100

Showing 81 - 100 of 153

If combination A lies on a higher indifference curve than combination B and combination B lies on a higher indifference curve than combination C,it must be that the total utility associated with combination A is _____ the total utility associated with combination C.

For most goods,as we move down an indifference curve:

Decreases in the price of the good measured on the vertical axis will make the vertical intercept _ and make the budget line _.

Use the following to answer questions : Table: Bundles of and Consumption Bundle Quantity of Good X Quantity of Good Y Total Utility (utils) A 2 2 10 B 3 1 10 C 4 4 20 D 1 1 5 -If a consumer moves downward along an indifference curve,his or her total utility:

Use the following to answer questions : -(Figure: Consumer Equilibrium III)Use Figure Consumer Equilibrium III.Kurt consumes at point A.Other things held equal,Kurt would be able to realize more total utility by choosing point:

Use the following to answer questions : -(Figure: Consumer Equilibrium IV)Use Figure Consumer Equilibrium IV.Assume that you are consuming the combination of goods at point G.Given the budget constraint FL,utility can be increased by moving to point:

Use the following to answer questions : -(Figure: Consumer Equilibrium II)Use Figure Consumer Equilibrium II.Ashyra consumes at point I.She could gain more utility by choosing point _____,all other things held equal.

Use the following to answer questions : Figure: The Optimal Consumption Bundle -(Figure: The Optimal Consumption Bundle)Use Figure The Optimal Consumption Bundle.Which of the following could lead to an optimal consumption bundle on indifference curve I₁?

Use the following to answer questions : -(Figure: The Consumption of Video Games and E-Books)Use Figure The Consumption of Video Games and E-Books.Which chart shows the effects of a decrease in income when video games are an inferior good and e-books are a normal good?

Since indifference curves depend on the _ for individuals,this means that two consumers with the same income _.

Shirley knows her marginal rate of substitution of mangoes for bananas is equal to 3.The price of bananas is $0.50 and the price of mangoes is $1.00.Shirley should buy more mangoes.

Maria derives 288 utils from buying 2 pairs of hiking boots and 4 saws.She gets 313 utils from buying 1 pair of hiking boots and 7 saws.Maria is indifferent between these two combinations of hiking boots and saws.

Assume that two combinations of two goods yield the same level of satisfaction.We can conclude that these combinations are always on:

The assumption that more is preferred to less explains why indifference curves:

Use the following to answer questions : -(Figure: Consumer Equilibrium IV)Use Figure Consumer Equilibrium IV.Assume that you are consuming the combination of goods at point I.Given the budget constraint FL,utility:

First Principles

Economic Models

Supply and Demand

Consumer and Producer Surplus

Price Controls and Quotas

Elasticity

Taxes

International Trade

Decision Making by Individuals and Firms

The Rational Consumer

Behind the Supply Curve- Inputs and Costs

Perfect Competition and the Supply Curve

Monopoly

Oligopoly

Monopolistic Competition

Externalities

Public Goods and Common Resources

The Economics of the Welfare State

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Exam 22: Consumer Preferences

If combination A lies on a higher indifference curve than combination B and combination B lies on a higher indifference curve than combination C,it must be that the total utility associated with combination A is _____ the total utility associated with combination C.

For most goods,as we move down an indifference curve:

Decreases in the price of the good measured on the vertical axis will make the vertical intercept _____ and make the budget line _____.

Use the following to answer questions : Table: Bundles of and Consumption Bundle Quantity of Good X Quantity of Good Y Total Utility (utils) A 2 2 10 B 3 1 10 C 4 4 20 D 1 1 5 -If a consumer moves downward along an indifference curve,his or her total utility:

Use the following to answer questions : -(Figure: Consumer Equilibrium III)Use Figure Consumer Equilibrium III.Kurt consumes at point A.Other things held equal,Kurt would be able to realize more total utility by choosing point:

Use the following to answer questions : -(Figure: Consumer Equilibrium IV)Use Figure Consumer Equilibrium IV.Assume that you are consuming the combination of goods at point G.Given the budget constraint FL,utility can be increased by moving to point:

Use the following to answer questions : -(Figure: Consumer Equilibrium II)Use Figure Consumer Equilibrium II.Ashyra consumes at point I.She could gain more utility by choosing point _____,all other things held equal.

Use the following to answer questions : Figure: The Optimal Consumption Bundle -(Figure: The Optimal Consumption Bundle)Use Figure The Optimal Consumption Bundle.Which of the following could lead to an optimal consumption bundle on indifference curve I1?

Use the following to answer questions : -(Figure: The Consumption of Video Games and E-Books)Use Figure The Consumption of Video Games and E-Books.Which chart shows the effects of a decrease in income when video games are an inferior good and e-books are a normal good?

Since indifference curves depend on the _____ for individuals,this means that two consumers with the same income _____.

Shirley knows her marginal rate of substitution of mangoes for bananas is equal to 3.The price of bananas is $0.50 and the price of mangoes is $1.00.Shirley should buy more mangoes.

Maria derives 288 utils from buying 2 pairs of hiking boots and 4 saws.She gets 313 utils from buying 1 pair of hiking boots and 7 saws.Maria is indifferent between these two combinations of hiking boots and saws.

Assume that two combinations of two goods yield the same level of satisfaction.We can conclude that these combinations are always on:

The assumption that more is preferred to less explains why indifference curves:

Use the following to answer questions : -(Figure: Consumer Equilibrium IV)Use Figure Consumer Equilibrium IV.Assume that you are consuming the combination of goods at point I.Given the budget constraint FL,utility:

First Principles

Economic Models

Supply and Demand

Consumer and Producer Surplus

Price Controls and Quotas

Elasticity

Taxes

International Trade

Decision Making by Individuals and Firms

The Rational Consumer

Behind the Supply Curve- Inputs and Costs

Perfect Competition and the Supply Curve

Monopoly

Oligopoly

Monopolistic Competition

Externalities

Public Goods and Common Resources

The Economics of the Welfare State

Factor Markets and the Distribution of Income

Uncertainty, risk, and Private Information

Graphs in Economics

Indifference Curve Analysis

Filters

Decreases in the price of the good measured on the vertical axis will make the vertical intercept _ and make the budget line _.

Use the following to answer questions : Figure: The Optimal Consumption Bundle -(Figure: The Optimal Consumption Bundle)Use Figure The Optimal Consumption Bundle.Which of the following could lead to an optimal consumption bundle on indifference curve I₁?

Since indifference curves depend on the _ for individuals,this means that two consumers with the same income _.