Blog

A change in which of the following will cause a change in the quantity demanded of coffee?

Refer to the following table to answer the next six questions. — — Chips Consumed Marginal Utility Soda Consumed Marginal Utility 0 0 1 18 1 12 2 15 2 10 3 12 3 8 4 9 4 6 5 6 5 4 6 3 6 2 7 0 7 0 Assume that chips cost $1 and soda costs $2. If the consumer has $7, the combination of goods that would maximize her utility leads to a utility equal to ________ utils.

The table below shows the daily production potential of two workers if they devote all their time to making either pizza or wings. Who has the absolute advantage at producing pizzas?Click to view larger image.

8.3 State which items when combined create a homogenous mixture and which items when combined create a heterogeneous mixture.   A) Water                                      B) Samp C) Sugar D) Curry powder              (4)

Refer to the following table to answer the next six questions.The table describes the utility Alice receives from her consumption of movies or used DVDs. Movies Consumed Total Utility Used DVDs Consumed Total Utility 0 0 0 0 1 200 1 50 2 350 2 80 3 400 3 100 4 480 4 110 5 480 5 103 Assume that movies cost $5 and used DVDs cost $1. If Ashley has $12, the bundle of goods that would maximize her utility leads to a total utility equal to ________ utils.

Economists expect the firm to maximize ________, the laborer to accept the best ________, and the consumer to find the combination of goods that gives the most ________.

Based on the figure below, what is the opportunity cost in terms of wings when producing 20 more pizzas if the economy is efficiently producing 150 wings and 50 pizzas?Click to view larger image.

Refer to the following graph to answer the next six questions. This consumer experiences diminishing marginal utility

If a decrease in price results only in a small savings, the enhanced purchasing power is effectively

Refer to the following graph to answer the next four questions. Total utility will reach its maximum at the consumer’s ________ cupcake.