v moodle.uleth.ca C ch + P Search | Perlego Apple G Google U ECON-1010-N-Fall 2023: E4 U E4 (page 18 of 24) Course Hero UofL Question 72 Time left 2:18:51 Units of Total Utility Total Utility Not yet the Good answered of X of Y Matching Definition 0 0 0 Marked out of 4.000 960 1180 1 2 Flag 1740 2060 10 11 12 question A W N - 2340 2700 2850 3220 Multiple Choice - Ch 8 3270 3620 13 14 15 16 17 18 19 20 21 3630 3940 3900 4180 22 23 24 00 4110 4360 For the next 3 questions, assume that an individual consumes two goods X and Y. Multiple Choice - Ch 9 The total utility (assumed measurable) of each good is independent of the rate of consumption of other goods. 25 26 27 28 29 30 31 32 33 The prices of X and Y are, respectively, $30 and $20. 34 35 36 If the consumer buys the fourth unit of X the Marginal Utility per Dollar Spent on X is If the consumer has $190 to spend on X and Y, the utility-maximizing bundle is unit (s) of X and unit(s) of Y. Multiple Choice - Ch 8 & 9 The minimum budget necessary to move to a higher equilibrium consumption of X and Y is $ - Extended 37 38 39 40 41 42 43 44 45 46 47 48 19 50 51 52 53 54 Question 73 Advise Sarah how to maximize her utility if MUA = 8, MUB = 20, PA = 4 and PB = 5. Not yet 65 56 answered Consume of good A and of good B. Marked out of 2.000 Fill-in-the-Blanks 57 58 62 63 64v moodle.uleth.ca C + P Search | Perlego Apple G Google U ECON-1010-N-Fall 2023: E4 U E4 (page 18 of 24) Course Hero UofL THAT LUAS Time left 2:18:49 34 35 36 If the consumer buys the fourth unit of X the Marginal Utility per Dollar Spent on X is If the consumer has $190 to spend on X and Y, the utility-maximizing bundle is unit (s ) of X and unit (s) of Y. Multiple Choice - Ch 8 & 9 The minimum budget necessary to move to a higher equilibrium consumption of X and Y is $ - Extended 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 Question 73 Advise Sarah how to maximize her utility if MUA = 8, MUB = 20, PA = 4 and PB = 5. 65 56 Not yet answered Consume of good A and of good B. Marked out of 2.000 Fill-in-the-Blanks Flag 57 58 59 60 61 62 63 64 65 question 66 67 68 69 70 71 Question 74 A consumer maximizes his utility by purchasing 5 units of good X at $25 per unit and 6 units of good Y at $5 per unit. What is Application Not yet the ratio of the marginal utility from X to the marginal utility from Y? 72 73 74 75 76 77 78 79 80 answered Enter your answer in form of A/B or A:B Marked out of 1.000 Finish attempt ... Flag question Previous page Next page moodle,ulethtca E Search | Perlego 0 Apple Google Question 75 Not yet answered Marked out of 6.000 \\V Flag question Previous page ll '1an *1 Fall 2 3 u E4 (page 19M 24) UofL Time left 2:18:46 The following questions are independent of each other: A consumer is currently consuming some of good X and some of good Y' If goods X and Y are a normal goods for this consumer, a decrease in consumer income will definitely cause a(n) S in the consumption of Xand a(n) S in the consumption of Y. The first can of Coke gives 26 units of utility to Whitney, while the second can of Coke gives her an additional 19 units of utility, The two cans of Coke give Whitney units of utility. The Smith family is allocating its monthly household expenditure between only two goods, food and clothing. Suppose that the price of food is $8 per unit, and the price of clothing is $20 per unit and that the marginal utility that the family is receiving from its consumption of food is currently 26. If the family is maximizing its utility from its consumption of clothing their marginal utility is [3 units. Alexandra consumes only caviar and champagne, but she does have a limited income of $1 365' Her current consumption choice is 9 ounces of caviar, at a price of $105 per ounce, and 12 bottles of champagne, at $35 each' The last ounce of caviar added 210 units to Alexandra's total utility, while the last bottle of champagne added 84 units. If Alexandra chooses 8 ounces of caviar and 15 bottles of champagne instead her total utility will :JMDW Matching Definition 1 2 3 lfllsllelVllsllgl Choice - Ch 8 '1eHi7H18H19H20H21, Multiple Choice - Ch 9 25 26 27 '28H29H30H31H32H33' 34 35 36 Multiple Choice - Ch 8 & 9 - Extended 37 38 39 mm 46 47 48 55 56 .Fiurinrthe-lanks. v moodle.uleth.ca C ch + P Search | Perlego Apple G Google U ECON-1010-N-Fall 2023: E4 U E4 (page 20 of 24) Course Hero UofL Back Quiz navigation Untitled section Time left 2:18:42 Question 76 The following questions are independent of each other: Not yet answered Samir consumes apples and bananas and is in consumer equilibrium. Matching Definition Marked out of The marginal utility from his last apple is 81 and the marginal utility from his last banana is 27. 2 3 5.00 1 If the price of an apple is $0.90, then the price of a banana is $ Flag 10 11 12 question As one moves up a typical indifference curve, how does the marginal rate of substitution change? Multiple Choice - Ch 8 It 13 14 15 16 17 18 19 20 21 22 23 24 The marginal rate of substitution of X for Y is 5, the price of X is $4, and the price of Y is $7. A utility-maximizing consumer should choose X and Multiple Choice - Ch 9 25 26 27 28 29 30 31 32 33 The first can of Coke gives 26 units of utility to Witney, while the second can of Coke increases her total utility to 38. The marginal utility of the second can of Coke is units . 34 35 36 Multiple Choice Previous page Next page - Extended 37 38 39 40 41 46 47 48 49 50 51 52 53 54 55v moodle.uleth.ca ch + P Search | Perlego Apple G Google U ECON-1010-N-Fall 2023: E4 U E4 (page 21 of 24) Course Hero UofL THAT LUAS Time left 2:18:38 Question 77 Use the table below to answer the following questions. Not yet answered Total Quantity Marginal Matching Definition Marked out of Utility Utility 6.000 0 0 Flag A 10 11 12 question 49 31 Multiple Choice - Ch 8 2 B 13 14 15 16 17 18 19 20 21 20 3 C 22 23 24 D 112 E Multiple Choice - Ch 9 5 F 25 26 27 28 29 30 31 32 33 6 34 35 36 6 128 Find the missing values A to F. Multiple Choice - Ch 8 & 9 A: B : C: D : E: F : - Extended 37 38 39 40 41 Previous page 46 47 48 Next page 49 50 55 56 Fill-in-the-Blanks moodle,ulethica E Search | Perlego 0 Apple U E4 (page 22 of 24) Google Q Question 78 Not yet answered Marked out of 1.000 \\V Flag question Previous page 0 2 4 5 6 8 10 Albums Rashid buys only books and albums The figure shows his preferences. Time left 2:18:36 When Rashid chooses the consumption point of 9 books and 2 albums, his marginal rate of substitution is O book(s) per album. Next page Matching Definition 1 2 3 l4ll5ll6ll7ll8ll9l 10 11 12 Multiple Choice - Ch 8 13 14 15'16\"17\"18\"19\"20\"21' Multiple Choice - Ch 9 2 6 27 '28 '29' 30' 31' 32 '33 Multiple Choice - Ch 8 & 9 - Extended 37' 38 '39 '40 '41' 46 47 4s 49 50 55 Fill-in-the-Blanks Si v moodle.uleth.ca C ch + P Search | Perlego Apple G Google U ECON-1010-N-Fall 2023: E4 U E4 (page 23 of 24) Course Hero UofL Question 79 Time left 2:18:29 AY Not yet answered Matching Definition Marked out of 3.00 1 2 3 4 5 6 7 3 9 Flag 10 11 12 question Units of good Y Multiple Choice - Ch 8 13 14 15 16 17 18 19 20 21 22 23 24 Multiple Choice - Ch 9 25 26 27 28 29 30 31 32 33 X 0 4 8 10 16 34 35 36 Units of good X Rashid buys only goods X and Y. His income is 300. Then the price of X rises. Multiple Choice - Ch 8 & 9 The total effect of the change in the price of X is that the quantity X changes by unit (s ) . - Extended 37 38 39 40 41 42 3 1 5 The substitution effect of the change in the price of X is that the quantity of X changes by unit ( s ) . 46 47 48 49 50 The income effect of the change in the price of X is that the quantity of X changes by unit ( s ) . 55 56 Previous page Next page Fill-in-the-Blanksv moodle.uleth.ca C ch + P Search | Perlego Apple G Google U ECON-1010-N-Fall 2023: E4 U E4 (page 24 of 24) Course Hero UofL united section Time left 2:18:26 i Question 80 Y Not yet answered 200 Matching Definition Marked out of 1 2 3 15 6 8 1.000 Flag 150 10 11 12 question Quantity of Y A B C 100 Multiple Choice - Ch 8 13 14 15 16 17 18 20 21 22 23 24 50 Multiple Choice - Ch 9 X 25 26 27 28 29 30 31 32 33 0 50 100 150 200 250 300 34 35 36 Quantity of X The marginal rate of substitution of X for Y at point A is (Expected answer is a number). Multiple Choice - Ch 8 & 9 - Extended 37 38 39 40 41 Previous page Finish attempt ... 46 47 48 49 5 65 56