1. Which of the following could be an example of a constraint? (a) Maximize my (b) K + L (c) 2A + 4B 3 30 (d) Minimize 2Q 2. Economists describe consumer choice as a constrained optimiza- tion problem. What is the consumer trying to do? (a) Maximize income subject to a budget constraint (b) Maximize the budget constraint (c) Maximize utility subject to a budget constraint (d) Maximize utility on an indifference curve 3. Suppose that the price of Housing' H, is 1 and the price of Food. F, is 2. while the consumer's income is $40. The con- ' sumer's level of satisfaction is measured by H + F. The con sumer's objective function is: (a) Maximize 1H + 2F (b) H + F (c) H + F S