Refer to the information provided in Figure 6.15 below to answer the questions that follow.sandwiches100Jo-el preferences and budget constraintNumber of ice cream conesсQuestion #41: Refer to Figure 6.15. Jason maximizes utility at PointA) A.B) B.C) C.D) D.Question # 40: Refer to Figure 6.15. If the price of an ice cream cone is Php2, Jo-el's income isA) Php75.B) Php250.C) Php300.D) indeterminate because the price of ice cream sandwiches is not given.150Question # 42: Refer to Figure 6.15. The slope of the indifference curve is the ratio of theA) marginal utility of ice cream cones to the marginal utility of ice cream sandwiches.B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones.C) total utility of ice cream cones to the total utility of ice cream sandwiches.D) total utility of ice cream sandwiches to the total utility of ice cream cones.B)-1.5.C) -3.0.D) indeterminate because the marginal utilities are unknown.Question #43: Refer to Figure 6.15. At Point A, the slope of the indifference curve isA) -0.67.Question # 44: Refer to Figure 6.15. If the price of an ice cream cone is $2, the price of ice creamsandwiches isA) $2.B) $3.C) $50.D) $100.Question #45: Moving along an indifference curve the:A. Consumers prefer some of the consumption points to others.B. Marginal rate of substitution for a good increase as more of the good is consumed. C. Marginal rate of substitution is constant.D. Consumers do not prefer one consumption point to another.Question # 46: Suppose inflation comes in the form of an across-the board increase in all prices by somepercentage k. For a consumer with exogenous income operating in a 2-good world, this will cause the budgetconstraint torotate inwarda.b.C.d.Question #47: Suppose you are given a coupon for pizza. This coupon lowers the price for eachadditionalpizza you buy by 5% for each addition pizza you buy. What happens to your budget constraint, with pizza onthe horizontal axis and a composite good on the vertical?The vertical intercept remains the same but the slope becomes steeper as more pizzas arebought.The vertical intercept increases and the slope becomes steeper as more pizzas are bought.The vertical intercept remains the same but the slope becomes shallower as more pizzas arebought.The vertical intercept increases but the slope becomes shallower as more pizzas are bought.a.b.C.rotate outwardshift out in a parallel wayshift inward in a parallel wayd.Question # 48: A decrease in a wage tax causes the opportunity cost of leisure to increase.TrueFalsea.b.Question #49: One of the aims of positive economics is to rank policies under consideration from mostdesirable toleast desirable.a.b.a.TrueQuestion # 50: If all consumers are price-takers facing the same prices, then their budget lines will allhave thesame slope.b.FalseTrueFalse

As per Bartleby guidelines I have done four subparts at a time. Please repost rest of questions. I…

Refer to the information provided in Figure 6.15 below to answer the questions that follow. Number of ice cream sandwiches 100 Jo-el preferences and budget constraint E Number of ice cream cones 150 Question # 40: Refer to Figure 6.15. If the price of an ice cream cone is Php2, Jo-el's income is A) Php75. B) Php250. C) Php300. D) indeterminate because the price of ice cream sandwiches is not given. Question # 41: Refer to Figure 6.15. Jason maximizes utility at Point A) A. B) B. C) C. D) D. Question # 42: Refer to Figure 6.15. The slope of the indifference curve is the ratio of the A) marginal utility of ice cream cones to the marginal utility of ice cream sandwiches. B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones. C) total utility of ice cream cones to the total utility of ice cream sandwiches. D) total utility of ice cream sandwiches to the total utility of ice cream cones.

Refer to the information provided in Figure 6.15 below to answer the questions that follow. Number of ice cream sandwiches 100 Jo-el preferences and budget constraint E Number of ice cream cones 150 Question # 40: Refer to Figure 6.15. If the price of an ice cream cone is Php2, Jo-el's income is A) Php75. B) Php250. C) Php300. D) indeterminate because the price of ice cream sandwiches is not given. Question # 41: Refer to Figure 6.15. Jason maximizes utility at Point A) A. B) B. C) C. D) D. Question # 42: Refer to Figure 6.15. The slope of the indifference curve is the ratio of the A) marginal utility of ice cream cones to the marginal utility of ice cream sandwiches. B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones. C) total utility of ice cream cones to the total utility of ice cream sandwiches. D) total utility of ice cream sandwiches to the total utility of ice cream cones.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter10: Consumer Choice Theory

Section: Chapter Questions

Problem 8P

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