Multiple Choice
Economists usually assume that consumers
A) are motivated to maximize their utility.
B) spend all of their current income.
C) are poor judges of what is best for them.
D) are motivated to maximize their profit.
E) usually save as much as possible of their income.
Correct Answer:
Verified
Correct Answer:
Verified
Q80: The substitution effect is<br>A) the change in
Q81: The figures below show Chris's consumption of
Q82: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5438/.jpg" alt=" FIGURE 6- 1
Q83: A parallel shift in the consumer's budget
Q84: The marginal rate of substitution<br>A) is equal
Q86: If total utility is decreasing as more
Q87: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5438/.jpg" alt=" FIGURE 6- 5
Q88: The diagram below shows a set of
Q89: Suppose there are only two goods, A
Q90: If consumption of a good generates a