10) Teresa consumes both steak and lobster. Suppose the formula for her indifference curves is S = U - 1.5L, where S stands for the number of steaks, L stands for the number of lobsters, and U represents utility. Which of the following bundles would Teresa prefer? A) 10 steaks and 4 lobsters B) 9 steaks and 5 lobsters C) 12 steaks and 2 lobsters D) There is not enough information to answer the question.

10) Teresa consumes both steak and lobster. Suppose the formula for her indifference curves is S = U - 1.5L, where S stands for the number of steaks, L stands for the number of lobsters, and U represents utility. Which of the following bundles would Teresa prefer? A) 10 steaks and 4 lobsters B) 9 steaks and 5 lobsters C) 12 steaks and 2 lobsters D) There is not enough information to answer the question.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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I need help with #10 please

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B) 【ne consumer aoes not preier one
bundle over the other.
8+
C) the consumer prefers the bundle
that is farthest to the right on the
indifference curve.
D) the consumer prefers the bundle
that is farthest to the left on the
indifference curve.
¹9
10) Teresa consumes both steak and lobster.
Suppose the formula for her indifference
curves is S = U - 1.5L, where S stands for
the number of steaks, L stands for the
number of lobsters, and U represents
utility. Which of the following bundles
would Teresa prefer?
A) 10 steaks and 4 lobsters
B) 9 steaks and 5 lobsters
C) 12 steaks and 2 lobsters
D) There is not enough information to
answer the question.
11) Suppose Addison is a big fan of jazz
music, and that he likes opera music very
little. What would his family of
indifference curves look like?
A) Negatively sloped, with higher
levels of utility represented by
indifference curves that are
to the origin.
B)
Positively sloped, with higher
levels of utility represented by
||| indifference curves that are closer

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