the only quantities of good 1 that Barbie can buy are 1 unit or zero units.For x1 equal to zero or 1 and for all positive values of x2, suppose that Barbie's preferences were represented by the utility function (x1 + 10)(x2 + 4).Then if her income were $12, her reservation price for good 1 would be

A) $2.50. B) $1.45. C) $2.91. D) $2.50 E) $.30. A) $2.50. B) $1.45. C) $2.91. D) $2.50 E) $.30.

the only quantities of good 1 that Barbie can buy are 1 unit or zero units.For x1 equal to zero or 1 and for all positive values of x2, suppose that Barbie's preferences were represented by the utility function (x1 + 6)(x2 + 8).Then if her income were $20, her reservation price for good 1 would be

A) $4.50. B) $.75. C) $8. D) $4. E) $1.23. A) $4.50. B) $.75. C) $8. D) $4. E) $1.23.

Exam 14: Market Demand-Part B

the only quantities of good 1 that Barbie can buy are 1 unit or zero units.For x₁ equal to zero or 1 and for all positive values of x₂, suppose that Barbie's preferences were represented by the utility function (x₁ + 10)(x₂ + 4).Then if her income were $12, her reservation price for good 1 would be

(Multiple Choice)

4.8/5

(69)

Question 21

suppose every Buick owner's demand for gasoline is 20 - 5p for p less than or equal to 4 and 0 for p > 4.Every Dodge owner's demand is 15 - 3p for p less than or equal to 5 and 0 for p > 5.Suppose that Gas Pump, South Dakota, has 100 Buick owners and 200 Dodge owners.If the price of gasoline is $4.25, what is the total amount of gasoline demanded in Gas Pump?

(Multiple Choice)

4.8/5

(88)

Question 22

the demand for tickets is given by D(p)= 200,000 - 10,000p, where p is the price of tickets.If the price of tickets is $18, then the price elasticity of demand for tickets is

(Multiple Choice)

4.8/5

(80)

Question 23

In the same football conference there is another university where the demand for football tickets at each game is 60,000 - 8,000p.If the capacity of the stadium at that university is 40,000 seats, what is the revenue-maximizing price for this university to charge per ticket?

(Multiple Choice)

4.7/5

(85)

Question 24

the only quantities of good 1 that Barbie can buy are 1 unit or zero units.For x₁ equal to zero or 1 and for all positive values of x₂, suppose that Barbie's preferences were represented by the utility function (x₁ + 6)(x₂ + 8).Then if her income were $20, her reservation price for good 1 would be

(Multiple Choice)

4.8/5

(82)

Question 25

Showing 21 - 25 of 25

Exam 14: Market Demand-Part B

the only quantities of good 1 that Barbie can buy are 1 unit or zero units.For x1 equal to zero or 1 and for all positive values of x2, suppose that Barbie's preferences were represented by the utility function (x1 + 10)(x2 + 4).Then if her income were $12, her reservation price for good 1 would be

the demand for tickets is given by D(p)= 200,000 - 10,000p, where p is the price of tickets.If the price of tickets is $18, then the price elasticity of demand for tickets is

In the same football conference there is another university where the demand for football tickets at each game is 60,000 - 8,000p.If the capacity of the stadium at that university is 40,000 seats, what is the revenue-maximizing price for this university to charge per ticket?

the only quantities of good 1 that Barbie can buy are 1 unit or zero units.For x1 equal to zero or 1 and for all positive values of x2, suppose that Barbie's preferences were represented by the utility function (x1 + 6)(x2 + 8).Then if her income were $20, her reservation price for good 1 would be

Budget Constraint-Part A

Budget Constraint-Part B

Preferences-Part A

Preferences-Part B

Utility-Part A

Utility-Part B

Choice-Part A

Choice-Part B

Demand-Part A

Demand-Part B

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Technology-Part B

Profit Maximization-Part A

Profit Maximization-Part B

Cost Minimization-Part A

Cost Minimization-Part B

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Firm Supply-Part B

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

Externalities-Part B

Information Technology-Part A

Information Technology-Part B

Public Goods-Part A

Public Goods-Part B

Asymmetric Information-Part A

Asymmetric Information-Part B

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