Multiple Choice
-In the figure above, Sam originally selects his consumption bundle at point A with 3 pounds of olives and 4 pounds of pickles a year. Then the price of pickles rises and the price of olives falls so that his budget line rotates but it still goes through point A. Sam's consumption of pickles
A) definitely will rise.
B) definitely will fall.
C) definitely will stay the same.
D) could rise, fall, or stay the same.
Correct Answer:
Verified
Correct Answer:
Verified
Q12: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -The figure above
Q13: The larger the marginal rate of substitution,
Q14: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -Consider the budget
Q15: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -A budget line
Q16: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -Kristen has an
Q18: An indifference curve shows<br>A) different combinations of
Q19: Suppose the price of coffee is $3
Q20: Real income can be measured by<br>A) the
Q21: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -In the above
Q22: Suppose you are graphing the quantity of