Econ_11_Prac_Quiz_2

# Econ_11_Prac_Quiz_2 - Practice Quiz 2 1 Econ 11...

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Practice Quiz 2 1 Econ 11 Microeconomics Practice Quiz 2 1. Indifference curves a. are non-intersecting. b. are contour lines of a utility function. c. are negatively sloped. d. all of the above. 2. For an individual who consumes only two goods, x and y , the opportunity cost of consuming one more unit of x in terms of how much y must be given up is reflected by 3. If bundles of goods A and B lie on the same indifference curve, one can assume

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Problems 4 and 5 refer to an individual whose utility function is given by U(x, y) = 4 x + 2 y
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