Discussion1

Discussion1 - Econ 100A/Summer 09 Discussion #1 1. If she...

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Econ 100A/Summer 09 Discussion #1 1. If she spends her entire budget, Betsy can afford 74 peaches and 9 pineapples. She can also just afford 14 peaches and 21 pineapples. The price of peaches is 17 cents. What is the price of pineapples in cents? (a) 95 cents (b) 5 cents (c) 22 cents (d) 85 cents (e) None of the above. 2. In Professor Meanscore's class, the first midterm exam and the second midterm exam are weighted equally toward the final grade. With the first midterm's score on the horizontal axis, and the second midterm's score on the vertical axis, indifference curves between the two exam scores are (a) L-shaped with lines extending upward and to the right. (b) L-shaped with lines extending downward and to the left. (c) parabola shaped. (d) straight lines with slope -1. (e) straight lines with slope 2. 3. Tim has preferences represented by the utility function U(x,y)=min{6x+y,x+2y}. If x is on the horizontal axis and y is on the vertical axis, what is the slope of his indifference curve at the point (8,9)? (a) -6
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This note was uploaded on 09/14/2009 for the course ECON 100A taught by Professor Babcock during the Summer '07 term at UCSB.

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Discussion1 - Econ 100A/Summer 09 Discussion #1 1. If she...

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