# mr jorge

1265 Words6 Pages
Question 1
0 out of 1 points

Root beer Candy bars
Quantity
Total
Marginal
Quantity
Total
Marginal utility utility utility utility 0
0
0
0
0
0
1
60
60
1
80
80
2
110
50
2
150
70
3
150
40
3
200
50
4
180
30
4
230
30
5
200
20
5
240
10
Reference: Ref 6-8

(Table) In the table, the total utility from consuming three root beers and two candy bars is:

310 utils.

300 utils.

Question 2
1 out of 1 points

Root beer Candy bars
Quantity
Total
Marginal
Quantity
Total
Marginal utility utility utility utility 0
0
0
0
0
0
1
60
60
1
80
80
2
110
50
2
150
70
3
150
40
3
200
50

when the price of a good decreases, people switch from more expensive goods.

Question 14
0 out of 1 points

The slope of the budget line is:

positive, since income and prices are positive.

negative, since to purchase more of one good means giving up some of the other good.

Question 15
1 out of 1 points

Total utility is:

the total satisfaction a consumer receives from consuming a certain amount of the good.

the total satisfaction a consumer receives from consuming a certain amount of the good.

Question 16
1 out of 1 points

Utility measures:

how much satisfaction is gained from the consumption of a good or service.

how much satisfaction is gained from the consumption of a good or service.

Question 17
1 out of 1 points

Economic costs are the sum of _____ and _____.

explicit costs; implicit costs

explicit costs; implicit costs

Question 18
0 out of 1 points

Economies of scale: