Microeconomics
21st Edition
ISBN: 9781259915550
Author: McConnell
Publisher: MCG
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Chapter 8, Problem 2DQ
To determine
Behavioral economics and metal process.
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Assume the following behavioral equations for a macroeconomy: C = 100 + .9Yd ,I = 50, T= $100 and G = $40 from the above behavioral equation the Equilibrium level of output is
Select one:
O a. $1000
O b. $1100
O c. None of the options
O d. $900
Answer the question on the basis of the following two schedules, which show the amounts of additional satisfaction (marginal utility) that a consumer would get from successive quantities
MUS
56
48
32
24
20
16
Units of J
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Multiple Choice
O
O
What level of total utility is realized from the equilibrium combination of J and K, if the consumer has a money income of $36 and the prices of J and K are $4 and $4, respectively?
O
12
238 utis
40 utils
204
Units of K
1
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MUK
32
28
24
20
12
10.
8
Suppose Duncan budgets $20 a week for entertainment. He can either go bowling for $4 a game,
or play mini golf for $6 a game. Duncan maximizes his total utility by bowling twice and playing two
games of mini golf. If the marginal utility from his second game of mini golf equals 12, what is the
marginal utility per dollar from his second game of bowling?
O 2
4-
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