Can anyone help me with these questions? I need someone to check my answers and correct it. Appreciate it.
Question 12 Figure and Table: The Changing Slope of an Indifference Curve Quantity of restaurant meals 30 W 20 X 15 12 .'. . ... 10 2 3 4 6 Quantity of rooms Consumption bundle Quantity of Quantity of rooms restaurant meals V 2 30 W 3 20 X 4 15 Y 5 12 Z 6 10Reference: Ref 11-6 (Figure and Table: The Changing Slope of an Indifference Curve) When going from bundle Z to bundle Y, the utility from Rooms decreases by This means that the MU of the additional two Meals (from 10 to 12) must be 12. O A. 15 O B. 24 OC. 2 O D. 6Question 14 1 point: Suppose Mary is currentlyI spending all her income on cookies and milk. The marginal utility of cookies is 15' the price of cookies is $5. the marginal utilityr of milk is 10, and the price of milk is $1. To increase her total utility, Mary should: 0 A. buy more milk and fewer cookies. 0 B. buy more of both goods. Q) C. buy more cookies and less milk. 0 D. buy less of both goods. 0 E. do nothing. She is currently maximizing utility with her limited budget. Question 17 When MU /P = MU ,/P 2, the indifference curve and budget line are necessarily tangent. True O FalseQuestion 18 1 points Sa Let there be two goods, X and Y. For individual A, the marginal utility of X is 2 while the marginal utility of Y is 1. If the prices of X and Y were both equal to $10, then individual A could improve his welfare even without an infusion of extra income by consuming: O A. more X even at the expense of consuming less Y. O B. more Y even at the expense of consuming less X. O C. more X only if consumption of Y could be maintained at the original level. D. less X, but only if consumption of Y could be maintained at the original level. O E. none of the above.Question 20 To be in equilibrium tie, to maximize satisfaction)' the consumer must: 0 A. be sure that the prices of all commodities purchased are proportional to their total utilities. 0 B. equalize the marginal ulities of the last unit purchased of every commodity. @i C allocate income so that the last penny spent on any good generates the same increment of utility as the last penny spent on any other good; 0 D. be sure that the price of each good is equal to the marginal utility of money' 0 E. purchase no inferior goods. Question 21 1 points Sa A line representing all the possible combinations of two commodities that a consumer can purchase at a particular time, given the market prices of the commodities and the consumer's income, is a(n): O A. indifference curve. O B. consumption line. O C. budget line. O D. income consumption curve.Question 22 Table 5-1 Total Utility Units 1 2 3 4 Good X 120 216 288 336 360 Good Y 90 160 220 270 305 Reference: Table 5-1 Refer to Table 5-1. If good X costs $6 per unit and good Y costs $5 per unit, at what quantities of X and Y is utility maximized if the budget is $337 O A. X = 2, Y = 3 O B. X = 4, Y = 5 O C. X = 3, Y = 4 O D. X = 3, Y = 3 O E. None of the aboveQuestion 23 If a consumer is given her choice between any two market baskets on the indifference curve, she will not care which one is given to her. O True O FalseQuestion 27 Table: Utility Units 2 3 4 un 6 Total utility 0 20 35 45 50 50 45 35 Reference: Ref 10-1 (Table: Utility) The marginal utility for the second unit is: O A. 5. O B. 35. O C. 15. O D. 10.Question 29 The price in a competitive market, without any inefficiencies, maximizes the gains from trade, because O A. No other single price can provide as much surplus to producers O B. No other single price can provide as much surplus to consumers O C. No other single price can allow as many quantities to be exchanged O D. Only A and BQuestion 31 The dead-weight loss due to an inefficiency in the market means that which of the following must occur? A. The consumer surplus no longer exists O B. A total surplus no longer exists O C. The total surplus is reduced O D. The producer surplus is reducedQuestion 39 Use the table below to answer the following question. Assume that the price of product A is $6.27 while the price for product B is $3.32. The buyer has a budget of $45. Q MUA HUB 1 23 21.5 2 21 19 3 19 16.5 4 1? 14 5 15 11.5 6 13 9 7 11 6.5 3 9 4 9 7 1.5 1D 5 1 Given the marginal utilities The optimal bundle is _. O A. 3 of product A and 6 of product B O B. 4 of product A and 3' of product B O C. 3 of product A and 3' of product B O D. 3 of product A and 5 of product B O E. 5 of product A and 5 of product B g F. 4 of product A and 6 of product B