Taylor's marginal utility from watching movies and from eating out (in utils)is shown in the accompanying table. Taylor spends exactly $100 every month on these two forms of entertainment; the price of each movie is $10 and the price of each dinner is $20. \[\begin{array} { | c | r | c | c | } \hline \begin{array} { c } \text { Mavies } \\ \text { Per Manth } \end{array} & \begin{array} { c } \text { Mar ginal Utility } \\ \text { Per Movie } \end{array} & \begin{array} { c } \text { Dingers Out } \\ \text { Per Month } \end{array} & \begin{array} { c } \text { Marginal Utility } \\ \text { Per Dinner } \end{array} \\ \hline 1 & 60 & 1& 150 \\ \hline 2 & 50 & 2 & 140 \\ \hline 3 & 20 & 3 & 120 \\ \hline 4 & 5 & 4 & 100 \\ \hline \end{array}\] If Taylor watches 2 movies a month, Taylor will eat out ________ times per month, and have marginal utility per dollar of ________ from movies and a marginal utility per dollar of ________ from eating out.

A) 3; 5; 6 B) 2; 5; 7 C) 4; 5; 5 D) 4; 4; 6 A) 3; 5; 6 B) 2; 5; 7 C) 4; 5; 5 D) 4; 4; 6

Refer to the accompanying table. Total utility ________ as additional apples are consumed, but marginal utility ________ with each additional apple consumed. \[\begin{array} { | c | c | } \hline \text { Number of Apples } & \begin{array} { c } \text { Tatal } \\ \text { Utility } \end{array} \\ \hline 1 &20 \\ \hline 2 & 35 \\ \hline 3 & 45 \\ \hline 4 & 50 \\ \hline 5 & 45 \\ \hline \end{array}\]

A) first decreases then increases; decreases B) first increases then decreases; decreases C) first decreases then increases; increases D) first increases then decreases; increases A) first decreases then increases; decreases B) first increases then decreases; decreases C) first decreases then increases; increases D) first increases then decreases; increases

Exam 5: Demand | Examlex

The accompanying figure below shows a single consumer's demand for ice cream at the student union. During a regular semester, there are 500 students on campus. Each student's weekly demand for ice cream is shown above. When the price of ice cream is $2.00 per scoop, those 500 students purchase a total of ________ scoops per week from the student union.

(Multiple Choice)

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Question 121

According to the law of demand, when the price of shoes , people will consume shoes.

(Multiple Choice)

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Question 122

Refer to the accompanying table. If the price of a t-shirt is $10 and the price of a sweater is $40, then the rational spending is satisfied when the consumer purchases t-shirts and sweaters.

(Multiple Choice)

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Question 123

Fran runs a doughnut shop in a tiny 3-person town. The accompanying table shows the quantity demand by the three townspeople at various prices. When the price of a doughnut is 25 cents, what is the market demand for doughnuts?

(Multiple Choice)

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Question 124

Suppose that Coke and Sprite each sell for $2 a can. Each month Joe buys 6 cans of Sprite and 30 cans of Coke. From this we can infer that:

(Multiple Choice)

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Question 125

The rational spending rule is derived from the consumer's desire to:

(Multiple Choice)

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Question 126

Joaquin's marginal utility from an additional slice of pumpkin pie is 4 utils and his marginal utility from an additional slice of pecan pie is 6 utils. If a slice of pumpkin pie costs $2.50, and a slice of pecan pie costs $3.00, then Joaquin:

(Multiple Choice)

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Question 127

The ________ combination of goods is the combination that yields the highest total utility given a consumer's income.

(Multiple Choice)

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Question 128

Casey earns $150 a week and consumes only fish and shrimp. The price of fish is $3 a pound and the price of shrimp is $5 a pound. If Casey's income rises to $210, he could buy a maximum of pounds of fish or a maximum of pounds of shrimp.

(Multiple Choice)

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Question 129

The dollar price of a good relative to the average dollar price of all other goods is the good's:

(Multiple Choice)

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Question 130

Refer to the accompanying figure. If Laura and Chris are the only two consumers in this market, then at a price of $2.00 per pound, the market demand for hamburger is:

(Multiple Choice)

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Question 131

Refer to the accompanying figure. The marginal utility of the 7ᵗʰ pizza is

(Multiple Choice)

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Question 132

Refer to the accompanying figure. For Jeff, the consumption of movies reflects the law of:

(Multiple Choice)

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Question 133

During Thanksgiving you participated in a pumpkin-pie eating contest. You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest. Your total utility ________ with the first three pies you ate.

(Multiple Choice)

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Question 134

At her current level of consumption, Jess gets half as much marginal utility from an additional bagel as from an additional muffin. If the price of muffin is $2 each, then Jess is maximizing her utility if the price of a bagel is:

(Multiple Choice)

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Question 135

Taylor's marginal utility from watching movies and from eating out (in utils)is shown in the accompanying table. Taylor spends exactly $100 every month on these two forms of entertainment; the price of each movie is $10 and the price of each dinner is $20. Mavies Per Manth Mar ginal Utility Per Movie Dingers Out Per Month Marginal Utility Per Dinner 1 60 1 150 2 50 2 140 3 20 3 120 4 5 4 100 If Taylor watches 2 movies a month, Taylor will eat out times per month, and have marginal utility per dollar of from movies and a marginal utility per dollar of from eating out.

(Multiple Choice)

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Question 136

Let MUc denote the marginal utility that Pablo receives from a cup of coffee, and let Pc denote the price of a cup of coffee. We typically expect that as Pablo buys more coffee:

(Multiple Choice)

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Question 137

Refer to the accompanying table. Total utility as additional apples are consumed, but marginal utility with each additional apple consumed. Number of Apples Tatal Utility 1 20 2 35 3 45 4 50 5 45

(Multiple Choice)

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Question 138

If the marginal utility of the 3ʳᵈ cup of coffee is 23 and the marginal utility of the 4ᵗʰ cup is 15, then:

(Multiple Choice)

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Question 139

Taking a limousine to a five-star restaurant in New York is a:

(Multiple Choice)

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Question 140

Exam 5: Demand

According to the law of demand, when the price of shoes ________, people will consume ________ shoes.

Refer to the accompanying table. If the price of a t-shirt is $10 and the price of a sweater is $40, then the rational spending is satisfied when the consumer purchases ________ t-shirts and ________ sweaters.

Fran runs a doughnut shop in a tiny 3-person town. The accompanying table shows the quantity demand by the three townspeople at various prices. When the price of a doughnut is 25 cents, what is the market demand for doughnuts?

Suppose that Coke and Sprite each sell for $2 a can. Each month Joe buys 6 cans of Sprite and 30 cans of Coke. From this we can infer that:

The rational spending rule is derived from the consumer's desire to:

Joaquin's marginal utility from an additional slice of pumpkin pie is 4 utils and his marginal utility from an additional slice of pecan pie is 6 utils. If a slice of pumpkin pie costs $2.50, and a slice of pecan pie costs $3.00, then Joaquin:

The ________ combination of goods is the combination that yields the highest total utility given a consumer's income.

Casey earns $150 a week and consumes only fish and shrimp. The price of fish is $3 a pound and the price of shrimp is $5 a pound. If Casey's income rises to $210, he could buy a maximum of ________ pounds of fish or a maximum of ________ pounds of shrimp.

The dollar price of a good relative to the average dollar price of all other goods is the good's:

Refer to the accompanying figure. If Laura and Chris are the only two consumers in this market, then at a price of $2.00 per pound, the market demand for hamburger is:

Refer to the accompanying figure. The marginal utility of the 7ᵗʰ pizza is

Refer to the accompanying figure. For Jeff, the consumption of movies reflects the law of:

During Thanksgiving you participated in a pumpkin-pie eating contest. You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest. Your total utility ________ with the first three pies you ate.

At her current level of consumption, Jess gets half as much marginal utility from an additional bagel as from an additional muffin. If the price of muffin is $2 each, then Jess is maximizing her utility if the price of a bagel is:

Let MUc denote the marginal utility that Pablo receives from a cup of coffee, and let Pc denote the price of a cup of coffee. We typically expect that as Pablo buys more coffee:

Refer to the accompanying table. Total utility ________ as additional apples are consumed, but marginal utility ________ with each additional apple consumed. Number of Apples Tatal Utility 1 20 2 35 3 45 4 50 5 45

If the marginal utility of the 3ʳᵈ cup of coffee is 23 and the marginal utility of the 4ᵗʰ cup is 15, then:

Taking a limousine to a five-star restaurant in New York is a:

Thinking Like an Economist

Comparative Advantage

Supply and Demand

Elasticity

Perfectly Competitive Supply

Efficiency, Exchange, and the Invisible Hand in Action

Monopoly, Oligopoly, and Monopolistic Competition

Games and Strategic Behavior

An Introduction to Behavioral Economics

Externalities, Property Rights, and the Environment

The Economics of Information

Labor Markets, Poverty, and Income Distribution

Public Goods and Tax Policy

International Trade and Trade Policy

Macroeconomics: The Birds Eye View of the Economy

Measuring Economic Activity: GDP and Unemployment

Measuring the Price Level and Inflation

Economic Growth, Productivity, and Living Standards

The Labor Market: Workers, Wages, and Unemployment

Saving and Capital Formation

Money Prices and the Federal Reserve

Financial Markets and International Capital Flows

Short-Term Economic Fluctuations: An Introduction

Spending and Output in the Short Run

Stabilizing the Economy: The Role of the Fed

Aggregate Demand, Aggregate Supply, and Inflation

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According to the law of demand, when the price of shoes , people will consume shoes.

Refer to the accompanying table. If the price of a t-shirt is $10 and the price of a sweater is $40, then the rational spending is satisfied when the consumer purchases t-shirts and sweaters.

Casey earns $150 a week and consumes only fish and shrimp. The price of fish is $3 a pound and the price of shrimp is $5 a pound. If Casey's income rises to $210, he could buy a maximum of pounds of fish or a maximum of pounds of shrimp.

Refer to the accompanying table. Total utility as additional apples are consumed, but marginal utility with each additional apple consumed. Number of Apples Tatal Utility 1 20 2 35 3 45 4 50 5 45