Question 14 (1.25 points)

Picture a graph with chicken on the vertical axis and pork on the horizontal axis. Larry's indifference curves are vertical. This implies that he ___________.

Question 14 options:

	receives no satisfaction from pork
	receives no satisfaction from chicken
	dislikes pork
	dislikes chicken

Question 15 (1.25 points)

Wrestling tickets sell for $10 and stock-car race tickets sell for $20. Suppose that Billy Bob, whose preferences satisfy all the usual assumptions, buys five wrestling tickets and two stock-car race tickets each month. With this consumption bundle, his marginal rate of substitution of wrestling matches for stock-car races is 3. Which of the following is correct?

Question 15 options:

	Billy Bob could increase his utility by buying more wrestling tickets and fewer stock-car race tickets.
	Billy Bob could increase his utility by buying more stock-car race tickets and fewer wrestling tickets.
	Billy Bob is at an interior solution and is maximizing his utility.
	Billy Bob is at a corner solution and is maximizing his utility.

Question 16 (1.25 points)

Ginny must spend her entire income on sunscreen and Silly Putty and chooses to spend it all on sunscreen, buying 10 bottles. Which of the following statements must be true?

Question 16 options:

	She considers Silly Putty to be a bad.
	The first unit of Silly Putty must have zero marginal utility.
	The first unit of Silly Putty must generate less utility than the tenth bottle of sunscreen.
	The first unit of Silly Putty must generate less utility per dollar than the tenth bottle of sunscreen.