Multiple Choice
Graph 22-8
-Refer to Graph 22-8. Assume that the consumer depicted in the graph has an income of $80. If the price of marshmallows is $4, the optimising consumer would choose to purchase:
A) five marshmallows and five chocolate chips
B) 10 marshmallows and 10 chocolate chips
C) nine marshmallows and six chocolate chips
D) three marshmallows and nine chocolate chips
Correct Answer:

Verified
Correct Answer:
Verified
Q1: Graph 22-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8859/.jpg" alt="Graph 22-4
Q73: Unless commodities are perfect complements or perfect
Q76: For Giffen goods, the income effect dominates
Q106: Graph 22-8<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8324/.jpg" alt="Graph 22-8
Q110: Graph 22-7<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8324/.jpg" alt="Graph 22-7
Q114: The income effect is the change in
Q114: Graph 22-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8324/.jpg" alt="Graph 22-5
Q115: A plausible example of a perfect substitute
Q116: Graph 22-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8324/.jpg" alt="Graph 22-5
Q117: The indifference curves of perfect substitutes are:<br>A)straight