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- D Question 18 Burgers 6543210 10 0 5 TTTTT o O 20 O 24 0 P 4 B C 8 Budget: $10 Burgers: $2 Bus Tickets: 50 cents D E 。. 12 Bus Tickets If the consumer spends all his money on bus tickets how many bus tickets can he afford to buy? 16 F 20 24If we observe that a consumerâ s budget constraint has shifted inward, we can assume that the consumer will buy O fewer normal goods and fewer inferior goods O more normal goods and more inferior goods O fewer normal goods and more inferior goods more normal goods and fewer inferior goodsAlda is willing to pay $2,000 to visit her favoritecousin over spring break. A month ago, she bookeda trip costing $1,200. Spring break has arrived, butAlda needs one day to finish an important paperbefore she goes. Alda could cancel her trip and geta refund of $800. Or, she could pay an additional$1,000 (on top of the $1,200 she already paid) torebook the trip for two days later. Explain whatAlda should do.
- QUESTION 4 Diminishing marginal utility provides an explanation for the slope of the demand curve. O True O False QUESTION 5 Diminishing marginal utility provides a theory of consumer behavior. O True O False QUESTION 6 If total utility is increasing, marginal utility must be increasing. O True O False5. Maximum utility occurs when the marginal utility per dollar for both goods is equal. True True O FalseQuestion 9 If we observe that a consumerâ s budget constraint has shifted inward, we can assume that the consumer will buy O more normal goods and fewer inferior goods O more normal goods and more inferior goods O fewer normal goods and more inferior goods fewer normal goods and fewer inferior goods O O
- When deciding which goods to consume, you should choose to consume the good with the highest marginal utility per dollar. O False, you should choose a combination of goods with equal marginal utility per dollar. O True, consumers are maximizing marginal utility and should always choose the highest amount per dollar. O False, you should buy the cheapest good to get a higher level of total utility. True, with diminishing marginal returns consuming more goods will reduce the marginal utility per dollar.In the short-run production period with one variable input (labor), when the average product of labor (APL) is increasing the marginal product of labor (MPL) must be; O a. more than APL. O b. decreasing. O c. will be less than APL. O d. increasing.Tea 50 40 30 20 10 0 Tea 50 40 30 20 10 0 OC OA D Chart A 2 5 10 15 20 25 30 Scones Chart C 5 10 15 20 Tea 25 30 Scones 50 40 30- 20 10 0 Tea 50 40 30 20 10 Chart B 5 10 1 0 5 15 20 25 30 Scones Chart D Look at the figure Budget Lines for Tea and Scones. For months now. Agnes has had $20 per month to spend on tea and scones. The price of each cup of tea and each scone has been $1. Which of the charts shows what will happen to her budget line if the price of a cup of tea falls to $0.50? 10 15 20 25 30 Scones 1 pts
- Table 6.1 Pretzels Marginal Utility 1 30 20 3 5 4 Refer to Table 6.1, which shows the marginal utility of each additional unit of pretzel for a consumer. The first column of the table shows the number of pretzels consumed in a day, and the second column of the table shows the marginal utility of each additional unit of pretzel. The total utility derived from the consumption of three pretzels is units. O a. 5 O b. 55 Oc. 15 Od. 57 O e. 70P2- P1- X Y Z O a $1223.75 Ob $1980.25 Oc. $1246.00 Od $734.25 O e. $489.50 Of $756.50 Time left 05525 Q1 quantity If in the figure above price P1 equals $3.00, price P2 equals $14.00, price P3 equals $30.50, and quantity Q1 equals 89 units, then what is the value of consumer surplus the market equilibrium?Submit All Question 26 of 60 Suppose the price of mobile apps increases. As a result, Khalil decreases the number of mobile apps he purchases. This will lead to O higher marginal utility from the last mobile app purchased. O lower marginal utility. O no change in total utility for each mobile app purchased. O an increase in total utility for each mobile app purchased. Activate Windows Go to Setti To activa Show all 7:22 PM 12/9/2021 APTOP LOGIN USERNAME Student t PASSWORD: Broward