*Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: x M Question 7 - Unit 5 L X Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 7 Units Consumed Total Utility Marginal Utility 0 0 40 A B 25 W N 89 C points 19 Refer to data. What is the value for C? Multiple Choice O 15 O 105 O 10 O It cannot be determined with the information given. *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: X M Question 9 - Unit 5 L x Model Answers X *Search Results | Coul > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 9 Number of Units of Total Commodity Utility 3 36 4 80 5 150 points 6 252 350 440 Refer to the table. At what consumption level for this product does diminishing marginal utility set in? Multiple Choice O 7 units O 5 units O 4 units O 8 units *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: x M Question 10 - Unit 5 | x *Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 10 Units Consumed Total Utility Marginal Utility 0 28 W N 18 IN a points Refer to the data. The value for Y is Multiple Choice O 25. O 61. O 40 . O 30 . *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: x M Question 11 - Unit 5 X Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 11 Number of Units Total Utility 36 80 5 150 points 6 252 350 440 Refer to the table. What is the marginal utility of the seventh unit? Multiple Choice O 252 O 350 O 90 98 *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: X M Question 12 - Unit 5 | x *Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 12 points NO- NW AUTO Marginal Utility Refer to the diagram. The total utility yielded by 3 unit(s) of X is Multiple Choice O 10 . O 15 O 4 . 18. *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: x M Question 15 - Unit 5 | x *Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 15 Units of X MUX MUx/Px = $2 MUx/Px = $1 Units of Y MUy MUy/Py = $4 20 48 18 40 16 36 14 32 points 12 24 11 12 If the prices of X and Y are $2 and $4 per unit, respectively, and this consumer has $10 in income to spend, to maximize total utility, this consumer should buy Multiple Choice O 1 unit of X and 2 units of Y. O 1 unit of X and 1 unit of Y. O 2 units of X and 2 units of Y. O 5 units of X and no units of Y. *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: x M Question 21 - Unit 5 | x Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Films.mheducation.co... Update : Unit 5 Lab Quiz Saved p Save & Exit Submit 21 Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $25. Units of L Total Utility Units of M Total Utility 9 16 15 28 points M A W N 18 36 20 40 21 42 How many units of the two products will the rational consumer purchase? Multiple Choice O 1 of L and 5 of M O 5 of L and 2 of M O 4 of L and 3 of M O 3 of L and 4 of M *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: X M Question 22 - Unit 5 x *Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 22 The table shows the total utility data for products S and T. Assume that the prices of S and T are $3 and $5, respectively, and that consumer income is $22. Units of S Total Utility Units of T Total Utility 12 20 27 35 points 39 45 UI A W N U A W N 48 50 51 52 If the price of T decreases from $5 to $4, while the price of S and the consumer's income stay the same, then the utility-maximizing combination is such that the quantity of T Multiple Choice O increases from 2 to 4. O increases from 2 to 3. O stays the same at 2, but the consumer now has $2 unspent. O decreases from 4 to 3. UTIT *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: x M Question 23 - Unit 5 X Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz Saved p Save & Exit Submit 23 The table shows the total utility data for products S and T. Assume that the prices of S and T are $3 and $5, respectively, and that consumer income is $22. Units of S Total Utility Units of T Total Utility 12 20 27 35 W N points 39 45 UI A W N 48 50 51 52 If the price of T decreases from $5 to $4, the price of S rises from $3 to $4, and the consumer's income rises from $22 to $24, then the utility-maximizing combination is such that the quantity of T consumed Multiple Choice O increases from 2 to 4, while the quantity of S falls from 4 to 2. O increases from 2 to 3, while the quantity of S remains unchanged at 4. O remains unchanged, as does the quantity of S. O increases from 2 to 3, while the quantity of S falls from 4 to 3. *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: X M Question 24 - Unit 5 x Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 24 The table shows the total utility data for products X and Y. Assume that the prices of X and Y are $3 and $4, respectively, and that consumer income is $18. Units of X Total Utility Units of Y Total Utility 9 16 15 28 points 36 UI A W N 19 UI A W N 21 40 22 42 Which of the following price-quantity schedules would represent the demand for X in the $2 and $3 price range? (a) (b) (c) (d) p Qd p Qd P Qd $ 3 1 P $ 3 2 $3 2 5 3 Multiple Choice O option A O option B O option D O option C *Course Hero X Rent control laws will x @ Unit 5 Lab Quiz - BU: x M Question 25 - Unit 5 x *Model Answers X *Search Results | Cour > *Dashboard C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.co... Update : Unit 5 Lab Quiz i Saved p Save & Exit Submit 25 The table shows the total utility data for products X and Y. Assume that the prices of X and Y are $4 and $4, respectively, and that consumer income is $28. Units of X Total Utility Units of Y Total Utility 13 20 19 32 points 23 40 UI A W N 25 44 26 46 How many units of the two products will the consumer buy to get maximum utility? Multiple Choice O 2 of X and 2 of Y O 1 of X and 4 of Y O 4 of X and 3 of Y O 3 of X and 4 of Y