Suppose the three buyers in the table are the only buyers in the market. If the price of a hamburger decreases from $6 to $4, the quantity of hamburgers demanded will

Need help with drawing the demand curve

Suppose that you have information indicating that the price of steel (an important input ofproduction in the auto industry) has doubled during the past few months. Show howthis economicshock will influence the market for American made cars and give your predictions for equilibriumprice and sales change.

Price 0 Quantity Refer to the above graph. An increase in price, other factors constant, would cause a change from Multiple Choice O point 1 to point 6. O point 4 to point 5. O point 5 to point 1. point 3 to point 4.

Is a good which is inferior for one Consumer is inferior for all the other consumers also?

If MUCoffee/PCoffee > MUDonuts/PDonuts you will spend your next dollar of income on coffee you will buy 2 more coffees you will buy 2 more donuts you will spend your next dollar of income on donuts

how do you find the marginal utilities of the goods with the information provided?

Suppose the price of Xylophones is $3 and the price of Yoyos is $7. Robin's marginal utility of Xylophones is 15 and the marginal utility of Yoyos is 21. In order to maximize utility, Robin should O Buy fewer Xylophones and fewer Yoyos O Buy fewer Xylophones and more Yoyos Buy fewer Yoyos and more Xylophones Continue to buy the same number of Xylophones and Yoyos.

stion 51 The following marginal utility data is for products X and Y. Assume that the prices of x and Y are 54 and $2 respectively and that the consumer's income is $18 wet ered d out of Units Marginal Units Marginal utility, Y of X utility, X of Y ove fiag 20 16 2 16 2. 14 3 12 3 12 4 8. 4 10 5. 8. 6 4. 6 Which of the following shows the price and quantity demanded of X? (A) (B) (C) (D) Qd P Qd Qd Qd P. $4 $4 2 $4 3 $4 3. 2 5. 2. 4 2 9. Select one: O a. column (B) O b. column (A) O c. column (C) O d. column (D)

Gilberto's reservation prices for tubs of hummus are given below. Q (Tubs) Reservation Price Answer: ($) 1 2 22 IN 3 16 4 14 5 6 at 28 13 11 Gilberto can also consume other foods which give him a constant marginal utility of 8.8 utils and cost $6.2. What is Gilberto's marginal utility from the 4th tub of hummus?