Question 22 (1.25 points)

Question 22 options:

A marginal rate of substitution of

means that, from the consumer's point of view, 15 more units of Good Y are as good as 10 more units of Good X.

Question 23 (1.25 points)

True or False. If the answer is false, explain why. As you move to the right of any indifference map, consumer utility always increases.

Question 23 options:

Question 24 (1.25 points)

Suppose that, after paying bills and setting aside some money for retirement, Joana has $130 dollars left to spend on just two goods: concerts and books. For simplicity, we'll assume that concert tickets cost $55 and books cost $10. Which of the following combination of goods could possibly be her utility-maximizing bundle?

Question 24 options:

a)	3 concert tickets and 2 books

b)	2 concert tickets and 2 books

c)	1 concert ticket and 5 books

d)	1 concert ticket and 10 books