(Solution) 11.The Figure Given Below Represents Two Indifference Curves I 1 And I2 Of An Individual. Figure 7.2 Refer To Figure 7.2. Which Of The Following | Snapessays.com


(Solution) 11.The figure given below represents two indifference curves I 1 and I2 of an individual. Figure 7.2 Refer to Figure 7.2. Which of the following


Please help with my microeconomics HW. It is multiple choice.  6 Questions11.The fgure given below represents two indiFerence curves I

 

1

 

and I

 

2

 

o± an individual.

 

Figure 7.2

 

Re±er to ²igure 7.2. Which o± the ±ollowing statements is true?

 

a. I2 represents a greater level o± sa³s±ac³on than I1.

 

b. Points A and E yield the same level o± sa³s±ac³on.

 

c. Point C yields a lower level o± sa³s±ac³on than point D.

 

d. Point B yields a greater level o± sa³s±ac³on than point C.

 

e. Point B yields a greater level o± sa³s±ac³on than point D.

 

12.Assume that a consumer purchases a combina³on o± products X and Y and MUx / Px = 75 u³ls per

 

dollar and MUy / Py = 50 u³ls per dollar. To maximize u³lity without spending more dollars, the

 

consumer should buy:

 

a. less o± Y only i± the price o± Y increases.

 

b. more o± both X and Y.

 

c. more o± X and less o± Y.

 

d. more o± Y and less o± X.

 

e. less o± both X and Y.

 

13.The diFerent combina³ons o± any two goods that an individual can aFord to purchase, given his

 

income and prices, is shown by:

 

a. a budget line.

 

b. a demand curve.

 

c. an indiFerence curve.

 

d. a supply curve.

 

e. an indiFerence map.

 


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This question was answered on: May 23, 2022

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