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Question In a world characterized by scarcity opportunity cost is zero. we are not limited by time. people must make choices among alternatives. individuals need not work to obtain goods. all goods are free. Question 2 For these demand and supply functions: QD = 50-7p QS = 10+3p What is the equilibrium quantity? (Enter a number, no units or symbols.) Answer: 22 Question 3 Consider the following information about your consumption of Books and Coffee: Books Coffee Number Tota Total consumed Utility Utility 20 55 38 75 53 92 65 107 76 119 85 129 91 137 95 143 98 147 Suppose each book costs $6, each coffee costs $4, and you have d hase 9 books, To be as happy as possible, how many coffees do you buy? Answer: 8 Question 4 For a market characterized by these demand and supply functions: QD = 30-4p QS = 10+6p The market price in equilibrium is $_ per unit. and the total consumer surplus is (Enter numbers, no symbols or units.) Answer for blank # 1: 2 (50 9%) Answer for blank # 2: 60.5 (50 9%) Question 5 The table below describes bundles of coffee and muffins that yield equal utility to a person. Bundle Coffee Muffins a 120 2 60 C 3 40 4 30 30 40 Moving from bundle f to bundle g. what marginal rate of sub symbols) Answer: 0.05 Attempt Score:5 / MacBook Pro 20 $ % * 4 E R T Y UIW 448 P CHIP ML. Can W "The IW 448 IW 448 P Pres RW Will G G Suc Is 01 7 Busi Slid .ca/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d21?ou=395851&isprv=&drc=0&qi=131784&cfql=0&dnb=0&fromQB= stan... Homepage - Wilfri. Images osap Libro Credit Union... Business 111 - Fal... Calculus text & Calculus Quiz Submissions - Part 2 Mini Quiz 1 X Layla Estanbouly (username: lestanbouly) Attempt 1 Written: Oct 20, 2021 9:55 AM - Oct 20, 2021 10:03 AM Submission View Your quiz has been submitted successfully. Question 1 In a world characterized by scarcity opportunity cost is zero. we are not limited by time. people must make choices among alternatives. individuals need not work to obtain goods. all goods are free. Question 2 Consider the following information regarding your consumption of Xylophones and Yoyos: Xylophones Yoyos Number consumed Total Utility Total Utility 20 25 35 42 47 56 OU AWN 58 69 68 81 76 91 7 83 100 8 107 91 112 10 116 What is your marginal utility for you y for your the 5th yoyo? Answer: 12 Question 3 Consider the following information about your consumption of xylophones and yoyos: Xylophones Yoyos Number consumed Total Utility Total Utility 20 25 47 58 68 69 76 83 100 88 107 91 112 10 93 116 Suppose the price of xylophones is $6 each and yoyos are $7 each. If you are as happy as possible, how many yoyos do you buy? Answer: 3 Question 4 Consider the following information about your consumption of xylophones and yoyos: MacBook Pro 20 & 5 6ce.wlu.ca LaylaEstanm B HomepageWilfri... 6 Images T? asap @ LibroCreditUnion... Business 111Fal... :i, Calculus text Question 2 For these demand and supply lunctions: ' QD = 50-7p OS : 10+3p What is the equilibrium quantity? (Enter a number, no units or symbols.) Answer: 22 J Question 3 Consider the following information about your consumption of Books and Coifee: Books Coffee Number Total Total consumed Utility Utlltty 1 30 20 2 55 36 3 75 53 4 92 65 S 107 7B 5 119 85 7 129 91 8 137 95 9 143 98 10 147 99 Suppose each book costs $6, each coffee costs 54, and you have decided to purchase 9 books. To be as happy as possible, how many coffees do you buy? Answer: 8 \\l guestion 4 For a market characterized by these demand and supply functions: QD = 30-4p 03 = 10+6p The market price in equilibrium is $ per unit. and the total consumer surplus is (Enter numbers, no symbols or units.) Answer for blank # 1: 2 Answer for blank # 2: 60.5 Heavier???\" Muffins 120 60 40 30 Moving from bundle f to bundle 3, what is the marginal rate of substitution of mufns for one coffee? {State the answer as the number. in absolute'vgloo, no symbols.) Answer: 0.05 J