Exam 4: A: Choice

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In Problem 6, Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $25, the price of y is $10, and Elmer chooses to consume 5 units of y, what must Elmer's income be?

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Question 1

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In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $400, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

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Question 2

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Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $6, and his income is $198, how many units of berries will Ambrose choose?

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Question 3

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In Problem 2, Clara's utility function is U(X, Y) = (X + 2)(Y + 1). If Clara's marginal rate of substitution is -4 and she is consuming 10 units of good X, how many units of good Y is she consuming?

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Question 4

In Problem 2, Clara's utility function is U(X, Y) = (X + 2)(Y + 1). If Clara's marginal rate of substitution is -6 and she is consuming 8 units of good X, how many units of good Y is she consuming?

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Question 5

In Problem 3, Ambrose's utility is U(x₁, x₂) = . If the price of nuts (good 1) is $1, the price of berries (good 2) is $7, and his income is $238, how many units of nuts will Ambrose choose?

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Question 6

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $160, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

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Question 7

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $5, and his income is $190, how many units of berries will Ambrose choose?

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Question 8

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $7, and his income is $259, how many units of berries will Ambrose choose?

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Question 9

Charlie's utility function is U(x_A, x_B) = x_Ax_B. If Charlie's income were $40, the price of apples were $5, and the price of bananas were $8, how many apples would there be in the best bundle that Charlie could afford?

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Question 10

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $200, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

(Multiple Choice)

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Question 11

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $9, and his income is $369, how many units of berries will Ambrose choose?

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Question 12

In Problem 3, Ambrose's utility is U(x₁, x₂) = . If the price of nuts (good 1) is $1, the price of berries (good 2) is $4, and his income is $104, how many units of nuts will Ambrose choose?

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Question 13

In Problem 7, what bundle would Linus choose if the price of x is $2, the price of y is $4, and his income is $24?

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Question 14

In Problem 6, Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $15, the price of y is $20, and Elmer chooses to consume 7 units of y, what must Elmer's income be?

(Multiple Choice)

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Question 15

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $160, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

(Multiple Choice)

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Question 16

In Problem 6, Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $20, the price of y is $20, and Elmer chooses to consume 8 units of y, what must Elmer's income be?

(Multiple Choice)

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Question 17

Charlie's utility function is U(x_A, x_B) = x_Ax_B. If Charlie's income were $40, the price of apples were $2, and the price of bananas were $6, how many apples would there be in the best bundle that Charlie could afford?

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Question 18

Charlie's utility function is U(x_A, x_B) = x_Ax_B. If Charlie's income were $40, the price of apples were $2, and the price of bananas were $3, how many apples would there be in the best bundle that Charlie could afford?

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Question 19

In Problem 2, Clara's utility function is U(X, Y) = (X + 2)(Y + 1). If Clara's marginal rate of substitution is -6 and she is consuming 8 units of good X, how many units of good Y is she consuming?

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Question 20

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Exam 4: A: Choice

In Problem 6, Elmer's utility function is U(x, y) = min{x, y2}. If the price of x is $25, the price of y is $10, and Elmer chooses to consume 5 units of y, what must Elmer's income be?

In Problem 1, Charlie has a utility function U(xA, xB) = xAxB, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $400, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $6, and his income is $198, how many units of berries will Ambrose choose?

In Problem 2, Clara's utility function is U(X, Y) = (X + 2)(Y + 1). If Clara's marginal rate of substitution is -4 and she is consuming 10 units of good X, how many units of good Y is she consuming?

In Problem 2, Clara's utility function is U(X, Y) = (X + 2)(Y + 1). If Clara's marginal rate of substitution is -6 and she is consuming 8 units of good X, how many units of good Y is she consuming?

In Problem 3, Ambrose's utility is U(x1, x2) = . If the price of nuts (good 1) is $1, the price of berries (good 2) is $7, and his income is $238, how many units of nuts will Ambrose choose?

In Problem 1, Charlie has a utility function U(xA, xB) = xAxB, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $160, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $5, and his income is $190, how many units of berries will Ambrose choose?

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $7, and his income is $259, how many units of berries will Ambrose choose?

Charlie's utility function is U(xA, xB) = xAxB. If Charlie's income were $40, the price of apples were $5, and the price of bananas were $8, how many apples would there be in the best bundle that Charlie could afford?

In Problem 1, Charlie has a utility function U(xA, xB) = xAxB, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $200, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

Ambrose's utility function is . If the price of nuts (good 1) is $1, the price of berries (good 2) is $9, and his income is $369, how many units of berries will Ambrose choose?

In Problem 3, Ambrose's utility is U(x1, x2) = . If the price of nuts (good 1) is $1, the price of berries (good 2) is $4, and his income is $104, how many units of nuts will Ambrose choose?

In Problem 7, what bundle would Linus choose if the price of x is $2, the price of y is $4, and his income is $24?

In Problem 6, Elmer's utility function is U(x, y) = min{x, y2}. If the price of x is $15, the price of y is $20, and Elmer chooses to consume 7 units of y, what must Elmer's income be?

In Problem 1, Charlie has a utility function U(xA, xB) = xAxB, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $160, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

In Problem 6, Elmer's utility function is U(x, y) = min{x, y2}. If the price of x is $20, the price of y is $20, and Elmer chooses to consume 8 units of y, what must Elmer's income be?

Charlie's utility function is U(xA, xB) = xAxB. If Charlie's income were $40, the price of apples were $2, and the price of bananas were $6, how many apples would there be in the best bundle that Charlie could afford?

Charlie's utility function is U(xA, xB) = xAxB. If Charlie's income were $40, the price of apples were $2, and the price of bananas were $3, how many apples would there be in the best bundle that Charlie could afford?

In Problem 2, Clara's utility function is U(X, Y) = (X + 2)(Y + 1). If Clara's marginal rate of substitution is -6 and she is consuming 8 units of good X, how many units of good Y is she consuming?

Budget Constraint

A: Budget Constraint

Preferences

A: Preferences

Utility

A: Utility

Choice

Demand

A: Demand

Revealed Preference

A: Revealed Preference

Slutsky Equation

A: Slutsky Equation

Buying and Selling

A: Buying and Selling

Intertemporal Choice

A: Intertemporal Choice

Asset Markets

A: Asset Markets

Uncertainty

A: Uncertainty

Risky Assets

A: Risky Assets

Consumers Surplus

A: Consumers Surplus

Market Demand

A: Market Demand

Equilibrium

A: Equilibrium

Auctions

A: Auctions

Technology

A: Technology

Profit Maximization

A: Profit Maximization

Cost Minimization

A: Cost Minimization

Cost Curves

A: Cost Curves

Firm Supply

A: Firm Supply

Industry Supply

A: Industry Supply

Monopoly

A: Monopoly

Monopoly Behavior

A: Monopoly Behavior

Factor Markets

A: Factor Markets

Oligopoly

A: Oligopoly

Game Theory

A: Game Theory

Game Applications

A: Game Applications

Behavioral Economics

Exchange

A: Exchange

Production

In Problem 6, Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $25, the price of y is $10, and Elmer chooses to consume 5 units of y, what must Elmer's income be?

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $400, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

In Problem 3, Ambrose's utility is U(x₁, x₂) = . If the price of nuts (good 1) is $1, the price of berries (good 2) is $7, and his income is $238, how many units of nuts will Ambrose choose?

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $160, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

Charlie's utility function is U(x_A, x_B) = x_Ax_B. If Charlie's income were $40, the price of apples were $5, and the price of bananas were $8, how many apples would there be in the best bundle that Charlie could afford?

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $200, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

In Problem 3, Ambrose's utility is U(x₁, x₂) = . If the price of nuts (good 1) is $1, the price of berries (good 2) is $4, and his income is $104, how many units of nuts will Ambrose choose?

In Problem 6, Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $15, the price of y is $20, and Elmer chooses to consume 7 units of y, what must Elmer's income be?

In Problem 1, Charlie has a utility function U(x_A, x_B) = x_Ax_B, the price of apples is $1, and the price of bananas is $2. If Charlie's income were $160, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?

In Problem 6, Elmer's utility function is U(x, y) = min{x, y²}. If the price of x is $20, the price of y is $20, and Elmer chooses to consume 8 units of y, what must Elmer's income be?

Charlie's utility function is U(x_A, x_B) = x_Ax_B. If Charlie's income were $40, the price of apples were $2, and the price of bananas were $6, how many apples would there be in the best bundle that Charlie could afford?

Charlie's utility function is U(x_A, x_B) = x_Ax_B. If Charlie's income were $40, the price of apples were $2, and the price of bananas were $3, how many apples would there be in the best bundle that Charlie could afford?